Senior entrepreneurship following unemployment: a social identity theory perspective
Date
2021
Type:
Article
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Abstract
This article applies social identity theory to examine how identifcation with social
groups shapes the entrepreneurial endeavours of individuals aged 50 or over who
start businesses when unemployed or under threat of redundancy. Understanding what drives older individuals to start a business as an alternative to unemployment has important policy implications: governments are interested in promoting
self-employment to reduce benefts dependence among older individuals for whom
fnding employment in the traditional labour market can be difcult. Our exploratory analysis is based on data collected in 21 personal interviews with senior entrepreneurs in the UK who received support from an organisation dedicated to foster
enterprising activity among older unemployed people. Our fndings suggest that
income levels beyond making ends meet is not an important motive for starting a
business among this demographic group. Instead, our data highlight the relevance of
non-monetary self-rewards—such as pursuit of autonomy, self-realisation, and wanting to feel active, useful and valuable—for senior entrepreneurs who start businesses
under adverse conditions. This fnding resonates with the European Commission’s
policy of promoting ‘active ageing’. Our analysis indicates non-monetary objectives
should be included in any conceptualisation of self-interest in an entrepreneurial
context.
Description
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Citation
Review of Managerial Science, 2021, vol.15:1683–1706
Keywords
Entrepreneurship, Ageing, Social identity, Qualitative methods, Senior entrepreneurship, Unemployment