Rise in Older Company Formation Owners

The fact that the number of graduates considering company formation has risen by almost twenty per cent since the economic downturn, is a well documented fact. But what about the other demographic which is on the up?

Recent figures reveal that the number of people aged 60-75 considering company formation has risen exponentially in the past ten years. This can be seen as a consequence of many factors; improved living conditions, the fact that people live longer and a change in the perception of what the concept of ‘retirement’ really means.

It is a well known fact that the UK has an aging population and as the government makes changes to the default retirement age from sixty five and looks to increase the age from which people can claim a state pension, enterprise and industry in the UK are going to be forced to rethink their perception of age.

Matthew Greenburg formed his IT Company last year at the age of sixty seven. He comments: “I had worked in the engineering industry for a large corporation for over thirty years. Over that time technology and systems changed exponentially and I was forced to change with it. I became extremely interested in IT and systems and once I was at retirement age I decided I wasn’t reading to stop learning, so I formed my own company.’