{"title":"OLDER WOMEN ENTREPRENEURS ARE DRIVEN BY WANT RATHER THAN NEED","authors":"L. Choi-allum","doi":"10.1093/geroni/igad104.1920","DOIUrl":null,"url":null,"abstract":"Abstract During the COVID-19 pandemic, women ages 50+ pursued their dream of starting a business. This study contacted 278 women ages 50-plus by phone and online, examining the drivers and barriers of women entrepreneurs. Over a quarter (27%) of women said they always wanted to start a business, and 19% said they did it to follow their passion; another 17% were pursuing additional income, and 11% wanted flexible work options. Age, and perhaps the value of experience, has been an advantage in business ownership. Women entrepreneurs age 50-plus were less likely to have faced financial challenges since starting their business, with over two in five (45%) avoiding such challenges, compared to 29% of women entrepreneurs in their 40s. Nearly seven in 10 women (69%) surveyed poured their personal savings into their start-up. In addition, two in three agree that they face unique challenges in trying to access capital for their business that are different from men. Despite these challenges, most women were optimistic about their entrepreneurial path. The majority of women (97%) agreed that they made the right decision in starting their business – with about two in five (39%) saying their business is doing better than expected compared to when they first started. Respondents say they need resources on marketing, recruiting and hiring staff, and financing. And over two in five say they have not taken any type of training. Increasing awareness of business supports, funding sources, and training opportunities will help women as they grow their business.","PeriodicalId":13596,"journal":{"name":"Innovation in Aging","volume":"174 ","pages":"586 - 587"},"PeriodicalIF":4.9000,"publicationDate":"2023-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Innovation in Aging","FirstCategoryId":"3","ListUrlMain":"https://doi.org/10.1093/geroni/igad104.1920","RegionNum":3,"RegionCategory":"医学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"GERIATRICS & GERONTOLOGY","Score":null,"Total":0}
引用次数: 0
Abstract
Abstract During the COVID-19 pandemic, women ages 50+ pursued their dream of starting a business. This study contacted 278 women ages 50-plus by phone and online, examining the drivers and barriers of women entrepreneurs. Over a quarter (27%) of women said they always wanted to start a business, and 19% said they did it to follow their passion; another 17% were pursuing additional income, and 11% wanted flexible work options. Age, and perhaps the value of experience, has been an advantage in business ownership. Women entrepreneurs age 50-plus were less likely to have faced financial challenges since starting their business, with over two in five (45%) avoiding such challenges, compared to 29% of women entrepreneurs in their 40s. Nearly seven in 10 women (69%) surveyed poured their personal savings into their start-up. In addition, two in three agree that they face unique challenges in trying to access capital for their business that are different from men. Despite these challenges, most women were optimistic about their entrepreneurial path. The majority of women (97%) agreed that they made the right decision in starting their business – with about two in five (39%) saying their business is doing better than expected compared to when they first started. Respondents say they need resources on marketing, recruiting and hiring staff, and financing. And over two in five say they have not taken any type of training. Increasing awareness of business supports, funding sources, and training opportunities will help women as they grow their business.
期刊介绍:
Innovation in Aging, an interdisciplinary Open Access journal of the Gerontological Society of America (GSA), is dedicated to publishing innovative, conceptually robust, and methodologically rigorous research focused on aging and the life course. The journal aims to present studies with the potential to significantly enhance the health, functionality, and overall well-being of older adults by translating scientific insights into practical applications. Research published in the journal spans a variety of settings, including community, clinical, and laboratory contexts, with a clear emphasis on issues that are directly pertinent to aging and the dynamics of life over time. The content of the journal mirrors the diverse research interests of GSA members and encompasses a range of study types. These include the validation of new conceptual or theoretical models, assessments of factors impacting the health and well-being of older adults, evaluations of interventions and policies, the implementation of groundbreaking research methodologies, interdisciplinary research that adapts concepts and methods from other fields to aging studies, and the use of modeling and simulations to understand factors and processes influencing aging outcomes. The journal welcomes contributions from scholars across various disciplines, such as technology, engineering, architecture, economics, business, law, political science, public policy, education, public health, social and psychological sciences, biomedical and health sciences, and the humanities and arts, reflecting a holistic approach to advancing knowledge in gerontology.