Am I Too Old to Start a Business?
Why Over-50s Are Leading a New Wave of UK Entrepreneurship
It's Not the End. It's a New Beginning.
Imagine this: after decades of dedication to your career, you're now pondering a new path. The thought of starting a business might seem daunting, especially when society often equates entrepreneurship with youth.
But what if this stage of life is not a winding down but a gearing up? What if your age is not a barrier but a badge of honour, signifying experience, resilience, and wisdom?
You're not alone in this contemplation.
A growing number of individuals over 50 in the UK are embracing entrepreneurship, proving that it's never too late to pursue new ventures.
The Rise of the Older Entrepreneur in the UK
Recent statistics reveal a significant shift in the UK's entrepreneurial landscape:
35% of UK businesses are now started and run by individuals over 50. (StartUpLoans.co.uk)
The number of self-employed workers aged 60 and over has reached an all-time high of 991,432, marking a 33% increase over the past decade. (The HR Director)
Nearly half (48%) of the self-employed workforce in the UK are aged 50 or over, the highest proportion in a decade. (Enterprise Nation)
These figures underscore a growing trend. Older individuals are not only starting businesses. They are doing so successfully.
Why Older Entrepreneurs Are Thriving
1. Experience and Expertise
With years of professional experience, older entrepreneurs bring a wealth of knowledge to their ventures.
This depth of understanding often translates into better decision-making and strategic planning.
2. Financial Stability
Many over-50s have accumulated savings or assets. This provides a financial cushion that allows for investment in new business ideas without the pressure of immediate returns.
3. Established Networks
Decades in the workforce often mean extensive professional networks. These can be invaluable for business development, partnerships, and mentorship.
4. Higher Success Rates
Research indicates that businesses started by individuals over 55 have a 70% chance of surviving the critical first five years, compared to 28% for younger entrepreneurs. (Informi.co.uk)
Real-Life Stories: Inspiration Beyond Numbers
Kari Johnston, 63, Fife
After retiring from a 45-year nursing career, Kari launched a professional decluttering and organising service. She now enjoys flexible work that fits around her lifestyle, stating, “I possibly get more satisfaction from what I do now than I did from nursing.”
Geoff Carss, 63, Somerset
Combining his passion for biodiversity with his background in software engineering, Geoff founded a tech company that uses AI to measure biodiversity. He describes the venture as deeply satisfying and a wonderful, purpose-driven experience.
Sibylle Hyde, 62, London
Transitioning from teaching economics, Sibylle turned her upholstery skills into a curtain-making business. She enjoys the creative problem-solving and plans to expand her venture further.
Overcoming Common Concerns
“I'm not tech-savvy.”
Many older entrepreneurs run successful businesses without being tech experts.
Today’s digital tools are more accessible than ever, and there are countless services and tutorials to help you get set up quickly.
“I don't have a groundbreaking idea.”
You don’t need one.
Most successful businesses are built by solving everyday problems in better ways.
Your lived experience is full of insight into what real people need.
“I'm afraid of failure.”
You’ve faced big decisions, setbacks, and transitions before.
You’ve navigated risk.
Compared to that, this is just another chapter. One where you're finally calling the shots.
Steps to Start Your Business Journey
1. Self-Assessment
Take time to evaluate your skills, values, and lifestyle preferences. What kind of business would energise rather than drain you?
2. Market Research
Look for underserved needs within your network, your industry, or your local community.
3. Business Plan
You don’t need 40 pages. A one-page plan that defines your offer, audience, pricing, and goals is often enough to begin.
4. Support System
Find mentors, join peer groups, or work with a coach who understands late-stage entrepreneurship. (At The Good Growth Advisory, this is exactly what we specialise in.)
5. Start Small and Validate
Sell your offer in its simplest form first. One client. One product. One pitch. Let clarity and confidence grow from real-world feedback.
Final Word: You’re Not Too Old. You’re Right On Time.
You have experience.
You have perspective.
You know what you want more of—and what you’ll never tolerate again.
The question is no longer “Am I too old to start a business?”. The better question is “What will I regret more? Starting late or never starting at all?”
This is your second spring.
A time not to slow down, but to grow into something that’s truly yours.
Ready to Begin?
The Good Growth Advisory exists to support purpose-driven founders at every stage of life. We offer strategy sessions, frameworks, and 1:1 guidance tailored for individuals over 50 who want to do business their way—calmly, clearly, confidently.
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