ENTREPRENEURSHIP AT LATER STAGE OF LIFE: AN OPPORTUNITY OR CHALLENGES FOR THE ELDERLY PEOPLE IN INDIA

Abstract

The aging has become a major concern for the societies in the western countries. Elderly people had a major impact on a society as a whole. The population aging has a direct effect on society and economies which create issues on social security system. Senior Entrepreneurship can be defined as starting or restarting of entrepreneurial ventures by an individual and who has attained the age of 60 either working or retired. Population aging has negative consequences as the age of the individuals reaches 50 or exceeds 50 the business creation falls. The population of the elderly people is predicted to be double which will overtake the number of children in a country by 2050. The study discusses about the opportunities, challenges and government initiatives which promotes and encourage elderly people towards entrepreneurship. Elderly people are embracing their golden years as an opportunity, with their wealth of knowledge and experience, to pursue their entrepreneurial dreams by staring their own business.