Silver Economy: Elderly Active Role as Entrepreneurs

Abstract:

This study intends to be a further contribution to the growing academic research on Silver Economy and seeks to contribute to a better understanding of the emerging phenomenon of senior entrepreneurship. Therefore, the main objective of this study was to investigate the current status of a particular aspect of the Silver Economy, the senior entrepreneurship. In order to achieve this objective, a computer-assisted bibliographic search was performed on October 22, 2022. This search included all publications available in the Scopus and Web of Science (WoS) databases. The search was based on the words “Silver Economy” and “Entrepreneurship”. Subsequently, for each article, it was collected information about authorship and publication date, country where the study took place, type of study, methods, objectives of the study and findings. The sixteen selected studies were developed in America, Asia and Europe and are predominantly secondary research (82.4%), 50% are quantitative and the remaining are qualitative research. The publications aimed at (1) analysing the relationship between the level and dynamics of population aging and the development of entrepreneurship in the senior population; (2) investigate the concept of Silver Economy and the phenomenon of senior entrepreneurship, in its essence, nature, characteristics, challenges and leadership styles; (3) examine financial literacy differences between older and younger entrepreneurs; (4) identify internal factors that affect entrepreneurial activity; (5) knowing the perceptions that individuals have about entrepreneurship and knowing what their impact is on entrepreneurial intention; (6) highlight the potential of older people for businesses and the economy; (7) report experiences of individuals who have followed an entrepreneurial journey after retirement; and (8) determine the effects of motives and attitudes on well-being and personal and professional fulfilment of entrepreneurs comparing the elderly with the younger ones.