Starting up a new business is not just for young people. More people are fulfilling their ambitions to start up a business or become self-employed later in life.
If you are a budding ‘olderpreneur’ and are thinking about setting up on your own, there may be help and support available.
If you are receiving certain benefits, the New Enterprise Allowance can help you to start your own business. It provides mentoring support to help you develop your business plan and financial support worth up to £1,274 when you start to trade.
Since its launch in 2011, the scheme has supported over 80,000 new business starts, and nearly one in four of participants are aged 50 or older.
Becoming self-employed or starting your own business can be a great way to use your wider knowledge, experience and skills whilst continuing to earn money, turning your passions and hobbies into a profession
You can also be in control of your workload and have the option of flexible working. For example, you could work part-time or during certain times of the year to fit around your other commitments and hobbies.