Contractors Improve With Age!

Like a good wine, maturity goes a long way.  I’m not talking about a fine Rioja or a soft plummy Merlot but more about the over-50 crowd of contractors.  According to reports from the [1]Cranfield School of Management ‘experienced’ contractors account for 54% of the nation’s self-employed entrepreneurs.

 Now is this because the older generation has been forced into self-employment following the recession or because they really have had enough of working for someone else?

 Maybe the children have now flown the nest (well for a few months anyway) which has enabled the over 50s to take stock of life and follow their dream.  Does the fact that having such a lot of information at our fingertips mean that it is easier to research ideas, reviews (both positive and negative) and proceed with that new venture which offers yet another challenge in life?

Entrepreneurs running small businesses across the economy’s industrial base

  • 54% over 50 years of age
  • 2% under 30 years
  • Average business growing by 19%
  • Average employment creation up by 21%
  • Top drivers of business
    • Vision
    • Strategy
    • Senior leadership
    • Innovation
    • Operational efficiencies
    • Sales and marketing

 This is good news for recovery of industries leading to job creation and exports.



[1] http://www.som.cranfield.ac.uk/som/som_applications/somapps/oepcontent.aspx?pageid=14249&apptype=newsrelease&id=15276

By:Sam Greenwell

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