Over 50s are the untapped creators of positive change in the UK says report

Monday, 06 February 2012

Research identifies the need to harness the passion and experience of older entrepreneurs.

New evidence revealed by UnLtd, the Foundation for Social Entrepreneurs shows that individuals aged 50 are playing an important role in making a positive impact by creating solutions to local issues within their communities; we call these people social entrepreneurs.

The research showed that older entrepreneurs are contributing to the economy through creating on average 1.5 jobs, 8 volunteering opportunities and 13 training opportunities per venture; with 56 of projects supporting on average over 600 beneficiaries each between 2010 and 2011. Older social entrepreneurs also experienced personal benefits, describing a growth in confidence and an improvement of skills since establishing their social ventures, as well as providing an additional income stream, so reducing poverty later in life.

Older social entrepreneurs are setting up projects which tackle a wide range of societal issues such as:

Cliff Prior, CEO of UnLtd said, “The research shows that social entrepreneurship benefits older people on many levels. However, it also shows that older people are an untapped talent source and there is huge potential to grow participation amongst this age group. Here at UnLtd we will be working to ensure that our funding programmes have the right structure and resources in place to support those individuals looking to make a positive difference and allow them to flourish.”

The report also identified that some potential entrepreneurs are reluctant to set up social ventures through lack of understanding about social entrepreneurship, uncertainty about the support available and lack of confidence to set up a venture.

The research suggests there is a key need to work with older generations directly on ideas generation and encourage those over 50 to use their skills, experience and passion to directly provide solutions to challenges facing their community.

As part of its ageing work, UnLtd is hosting the Engage Conference on March 21^st 2012 at the Congress Centre in London and will explore the positive opportunities that social entrepreneurship offers the age sector. The event will also discuss how organisations operating in the age sector can work effectively with social entrepreneurs to promote and nurture innovation.

To read the full Golden Opportunities report and to register your interest for the Engage conference, please visit www.UnLtd.org.uk