Mikaela Backman (p), Charlie Karlsson

Carin Holmquist

There is a growing literature on elderly and entrepreneurship, i.e. grey entrepreneurship. Their motives are numerous ranging from feeling social included to maintain the same income level. Interesting as such, this paper contributes to the existing literature by taking this one step further and examine the survival of firms and connecting it with the age of the operational manager. The results show that both the age of the operational manager and the share of elderly among the employees is associated with firm survival. For the age of the operational manager we observe an inverted U-shape relationship for all firms but when separated into different firm size categories, the relationship changes functional shape. The share of elderly among the employees is positively associated with firm survival.

Carin Holmquist (p), Elisabeth Sundin

Orsa Kekezi

Entrepreneurial dynamics in the third age – a study of trajectories for start-ups by entrepreneurs aged 55 and 60
Entrepreneurship has long been in focus as an important driver for economic growth and employment (i.e. Birch, 1979). Entrepreneurship and self-employment is also frequently presented as a relief for the individual longing for independence and freedom (Chatterjee & Das, 2015; Storey, 2016). Research on drivers of entrepreneurial behavior and firm dynamics has grown exponentially. Studies on entrepreneurial entry, survival and exit show that the dynamics in patterns of entrepreneurs starting, driving and leaving firms is interesting, with a large turnover of firms and of entrepreneurs (Ucbasaran, Westhead & Wright, 2006; Wennberg et al., 2010). Such dynamics can also be linked to the life course dynamics (Elder, Johnson & Crosnoe, 2003) of individual entrepreneurs, which is demonstrated in research showing that entrepreneurship mostly entails the same issues for old and young entrepreneurs but that some issues are specific for old ones – as self-employment as a bridge to retirement, or a way to extend working life (Kerr & Armstrong-Stassen, 2011, Kautonen 2008).
Surprisingly few have studied the dynamics within certain age groups, namely people 55+. Our contribution aims at addressing this gap since we explore entry, survival and exit patterns of a group of entrepreneurs aged 55+. We build on theories and data from our ongoing research program on “Older as Entrepreneurs” and are well aware of it that the definition of “old age” is discussed both in politics, in organizations and among groups and individuals – but there is some consensus that “old” at least means 50+.
In our contribution we present an empirical study encompassing two groups: all 55 years old and 60 years old that started firms of their own in 2004. We follow these entrepreneurs over six years to analyze changes in their relation to the labor market (industry experience, type of occupation etc) and the nature of their entrepreneurship (industry, size etc). We find three general change patterns: stay as firm owners, go to an employment or leave the labor market (retirement etc).
The findings show quite a dynamic pattern and challenge many beliefs about entrepreneurship and about elderly on the labor market and as self-employed. Increasing knowledge of the hitherto neglected dynamics of older entrepreneurs in terms of entrepreneurial entry, survival and exit contributes to more adequate theories on overall entrepreneurial dynamics.

Kazue Haga (p)

Mikaela Backman

See extended abstract.

Mats Hammarstedt (p), Lina Aldén

Kazue Haga

This paper compares life satisfaction among the elderly (61 years of age or older) who are self-employed, wage-employed or out of the labour force in Sweden with the help of a unique survey. Sweden is interesting since the share of elderly, just as in other countries, has increased during the last decade. Encouraging the elderly to remain in the labour force is now high on the political agenda. We find that people who are self-employed report higher life satisfaction than people who are wage-employed or out of the labour force. General health is a strong determinant of life satisfaction but the differences among the groups remain when we control for health related variables. Further, the self-employed report higher job satisfaction than the wage-employed, and find their work less mentally stressful. Even though our results are driven by different types of selection, we conclude that they underline the need for a flexible working life. Stimulating self-employment among older people may be an effective way to improve their life satisfaction, to increase Sweden’s labour supply and to keep older people in the labour force.