From topping up pensions to fulfilling a life-long ambition to become an entrepreneur,business owners share their reasons for starting up later in lifeIf I asked you to picture a typical entrepreneur, chances are the image in your head would be the 30-something founder of a tech startup. It probably wouldn’t be a pensioner choosing entrepreneurship over retirement. But with the pension age edging ever further absent, and older entrepreneurs are a growing tribe. And it seems that this trend is likely to become fragment of a long-term shift: recent projections about the working lives of millennials propose that many may need to continue working well into their 60s and even 70s.
For serial entrepreneur Richard Martin,founder of ATK All Terrain Kart, the reasons for starting the company were simple. Martin found himself unemployed at the age of 62, or “without any realistic chance of getting another job”,and was concerned about how far his savings and pension could stretch. He teamed up with his brother-in-law, pooled resources and founded the business in order to “generate an additional income to enable me to enjoy the standard of living to which I had become accustomed”.
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Source: theguardian.com