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Seniors -
A Source of Untapped Enterprise Potential?
         OECD workshop on Skills Development
           for SMEs and Entrepreneurship


                     Copenhagen
                  28 November 2012



                    Paula Fitzsimons
             paula@fitzsimons-consulting.com
The Starting Point
   Demographic challenge to Lisbon Strategy

   Ageing of population is aggravating the
    entrepreneurship gap

   Not a homogeneous group

   Varying risk options is needed to suit individual
    preferences

   Novel approach is needed to encourage their greater
    engagement with enterprise
OECD Policy Brief on Senior
               Entrepreneurship
Key messages:
Population           in Europe is ageing
Few      involved in Entrepreneurship
Most      focused on micro businesses with less growth
orientation
Growing          population of healthy older people with skills,
financial resources and time available…potential
entrepreneurs
 http://www.oecd.org/cfe/leedprogrammelocaleconomicandemploymentdevelopment/Policy_Brief_Senior_Entrepreneurship
OECD Policy Brief on Senior
            Entrepreneurship
To increase entrepreneurship by older people, policy should:
Create    a positive awareness
Support    training and networks
Provide   access to financing schemes
Include   acquisition as route into entrepreneurship
Encourage      50+ to support others as Business Angels or
mentors
Tax   and social security systems should not act as
disincentives
European Supported Initiatives
Prince’s   Initiative for Mature Enterprise (UK charity)
                           http://www.prime.org.uk/

Mature   Entrepreneurs (Poland)
                      http://pup.gda.pl/en/articles/629_914.html

Best Agers    (multiple countries)
                         www.best-agers-project.eu

Senior   Enterprise (three partner countries plus observers across NW Europe)
                           www.seniorenterprise.ie
Iii e - fitsimons seniors as an untapped source of enterprise potential
The means by which those in the older groups will
engage with enterprise as part of this ambitious pilot
programme is:
   Through starting and partnering
   Through investing and acquiring
   Through advising and supporting innovation in
    new and existing businesses

    Role of Senior Ambassadors in reinforcing the
    message
Senior Enterprise is also focused on:
   Raising awareness of the many ways in which older
    people can engage with enterprise

   Identifying and influencing the removal of barriers to
    engagement

   Influencing policymakers to view older people
    through engagement with enterprise as a resource
ROLE MODELS A KEY PART OF
 COMMUNICATION STRATEGY
Senior Entrepreneurs

Developed and implemented on the basis of
transnational and shared learning

Iterative process has permitted the identification of
appropriate content and delivery style for 50+ Senior
Entrepreneurs

Role of volunteer mentors/facilitators

Communication strategy/ gatekeepers role in generating
field of suitable participants
Community of Shared Interest
Partners
Mid-East Regional Authority, Ireland (Lead Partner)
The PRIME Initiative, UK
Inno TSD, France

Observers
City of Bonn, North Rhine Westphalia, Germany
Conseil Général des Côtes d’Armor, Brittany France
County Enterprise Boards in Kildare, Meath and Wicklow, Ireland
Dublin City University, Ireland (Link to Professor of Entrepreneurship)
Ministry for Intergenerational Affairs, Family, Women and Integration, North Rhine
Westphalia, Germany
Perspective 45, Luxembourg
Provincial Government of Gelderland, Netherlands
PRIME Cymru, Wales
Highly Innovative

Turns the disadvantages often associated with the over
 50’s and demographic change into a positive driver of
 entrepreneurship and growth

Such a comprehensive approach has not been delivered
 previously

Model is being tested and will be rolled out beyond NWE
It is intended as a result of Senior Enterprise that
 More businesses will have been started
 More investment will have been made
 More older citizens will be active as advisors in
   new and developing businesses
Senior Entrepreneurs



Of those who have received some form of
  Senior Enterprise support, over 900 had set
  up new businesses in 2011.
Responding to Demographic Change in
         North West Europe




  To learn more please visit the website
          www.seniorenterprise.ie
Seniors-
A Source of Untapped Enterprise Potential?




                   Paula Fitzsimons
            paula@fitzsimons-consulting.com
Seniors-
A Source of Untapped Enterprise Potential?



          Most definitely!

                   Paula Fitzsimons
            paula@fitzsimons-consulting.com

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Iii e - fitsimons seniors as an untapped source of enterprise potential

  • 1. Seniors - A Source of Untapped Enterprise Potential? OECD workshop on Skills Development for SMEs and Entrepreneurship Copenhagen 28 November 2012 Paula Fitzsimons paula@fitzsimons-consulting.com
  • 2. The Starting Point  Demographic challenge to Lisbon Strategy  Ageing of population is aggravating the entrepreneurship gap  Not a homogeneous group  Varying risk options is needed to suit individual preferences  Novel approach is needed to encourage their greater engagement with enterprise
  • 3. OECD Policy Brief on Senior Entrepreneurship Key messages: Population in Europe is ageing Few involved in Entrepreneurship Most focused on micro businesses with less growth orientation Growing population of healthy older people with skills, financial resources and time available…potential entrepreneurs http://www.oecd.org/cfe/leedprogrammelocaleconomicandemploymentdevelopment/Policy_Brief_Senior_Entrepreneurship
  • 4. OECD Policy Brief on Senior Entrepreneurship To increase entrepreneurship by older people, policy should: Create a positive awareness Support training and networks Provide access to financing schemes Include acquisition as route into entrepreneurship Encourage 50+ to support others as Business Angels or mentors Tax and social security systems should not act as disincentives
  • 5. European Supported Initiatives Prince’s Initiative for Mature Enterprise (UK charity) http://www.prime.org.uk/ Mature Entrepreneurs (Poland) http://pup.gda.pl/en/articles/629_914.html Best Agers (multiple countries) www.best-agers-project.eu Senior Enterprise (three partner countries plus observers across NW Europe) www.seniorenterprise.ie
  • 7. The means by which those in the older groups will engage with enterprise as part of this ambitious pilot programme is:  Through starting and partnering  Through investing and acquiring  Through advising and supporting innovation in new and existing businesses Role of Senior Ambassadors in reinforcing the message
  • 8. Senior Enterprise is also focused on:  Raising awareness of the many ways in which older people can engage with enterprise  Identifying and influencing the removal of barriers to engagement  Influencing policymakers to view older people through engagement with enterprise as a resource
  • 9. ROLE MODELS A KEY PART OF COMMUNICATION STRATEGY
  • 10. Senior Entrepreneurs Developed and implemented on the basis of transnational and shared learning Iterative process has permitted the identification of appropriate content and delivery style for 50+ Senior Entrepreneurs Role of volunteer mentors/facilitators Communication strategy/ gatekeepers role in generating field of suitable participants
  • 11. Community of Shared Interest Partners Mid-East Regional Authority, Ireland (Lead Partner) The PRIME Initiative, UK Inno TSD, France Observers City of Bonn, North Rhine Westphalia, Germany Conseil Général des Côtes d’Armor, Brittany France County Enterprise Boards in Kildare, Meath and Wicklow, Ireland Dublin City University, Ireland (Link to Professor of Entrepreneurship) Ministry for Intergenerational Affairs, Family, Women and Integration, North Rhine Westphalia, Germany Perspective 45, Luxembourg Provincial Government of Gelderland, Netherlands PRIME Cymru, Wales
  • 12. Highly Innovative Turns the disadvantages often associated with the over 50’s and demographic change into a positive driver of entrepreneurship and growth Such a comprehensive approach has not been delivered previously Model is being tested and will be rolled out beyond NWE
  • 13. It is intended as a result of Senior Enterprise that  More businesses will have been started  More investment will have been made  More older citizens will be active as advisors in new and developing businesses
  • 14. Senior Entrepreneurs Of those who have received some form of Senior Enterprise support, over 900 had set up new businesses in 2011.
  • 15. Responding to Demographic Change in North West Europe To learn more please visit the website www.seniorenterprise.ie
  • 16. Seniors- A Source of Untapped Enterprise Potential? Paula Fitzsimons paula@fitzsimons-consulting.com
  • 17. Seniors- A Source of Untapped Enterprise Potential? Most definitely! Paula Fitzsimons paula@fitzsimons-consulting.com