What is senior entrepreneurship in Spain and why does it offer so many opportunities?

More and more people over 50 are choosing to start their own businesses. What is driving this phenomenon and what opportunities do our country offer? Learn in detail about the concept of senior entrepreneurship in Spain and the reasons behind its growing popularity. If you are interested in learning how this path can open new doors in your professional life, read on!

What is senior entrepreneurship in Spain?

Data on senior entrepreneurship in Spain reveal that entrepreneurial initiatives are led by older individuals. Specifically when contrasted with the picture in Europe.

This not only demonstrates a significant advance in entrepreneurship among the older population in Spain, but also contributes to job creation in the country.

It is interesting to note that those with employees tend to postpone their retirement. In fact, in Spain, self-employed workers over 65 years of age (who have employees) take longer to retire from the labor market.

In this context, it is relevant to highlight that senior talent has a more positive impact on employment generation. This in comparison with younger entrepreneurs.

In our country, the Entrepreneurial Activity Rate (EAR) is the highest in Europe. Specifically, Spanish senior entrepreneurs (between 54 and 64 years old) present the most outstanding numbers.

Likewise, the analyses and graphs provided compare several countries in the region. Poland and Spain are the countries where there is the greatest willingness to start a business over the age of 54. 

You can see a chart with some of this data on senior entrepreneurship below:

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Attractive ideas for senior entrepreneurship

If you are considering entrepreneurship, here are some proposals that can be especially beneficial for seniors. Remember, senior entrepreneurship is booming. So there are a number of opportunities for those who want to start a business in the post-retirement stage of life. 

Here, we offer you some entrepreneurship ideas that are in line with current trends: 

Offers webinars and online courses

There are several platforms where you can sell your knowledge and reach a wide audience of potential students. Specific trainings on less common but in-demand topics are especially valuable as an entrepreneurial venture.

For example, consulting on legal issues in a particular sector that the entrepreneur knows well due to previous experience. This would provide a practical approach. Especially because of the insights you can provide with first-person cases. You can offer a unique value in this type of course.

Provides coaching and mentoring services

In line with the above idea, many companies value experience-based mentoring for their new employees. This is especially relevant for younger technical professionals to develop interpersonal skills that will make them future leaders. Have you thought about this entrepreneurship idea? 

The prospect of an extensive professional career, which has provided situations to cultivate these soft skills, is a special asset. And it is appreciated by companies willing to invest in it.

Sale of products related to previous hobbies begins

Imagine someone who has worked in the legal field all his life. But who, on a personal level, has always had an interest in the world of wine. 

If you have the resources, opening a physical or online business related to products you know well can be a promising opportunity. Starting with an advantage by knowing the market and the product. 

In addition, your management skills add value by negotiating with suppliers, setting prices and understanding public preferences. With a venture like this, you already know what types of wine are in demand as a consumer. 

Your passion and personal knowledge translate into a unique competitive advantage. Which can make your business related to your previous hobbies both rewarding and successful. Don’t underestimate the value of turning your passion into an entrepreneurial venture!

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Reasons for entrepreneurship after 54 years of age

Experience is the main advantage of senior talent. When a young entrepreneur starts his business, he often faces difficulties due to his lack of experience. This can lead to frustrations, more time invested in planning and executing the business plan, among others.

A senior entrepreneur has years of experience that allow him/her to:

In addition, senior entrepreneurs usually have a larger network of contacts after years of professional career. As well as the necessary resources (financial, material, emotional, etc.) to launch any project.

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Senior entrepreneurship in Spain is a phenomenon in constant growth. It opens up a world of possibilities for those seeking to reinvent themselves professionally in the mature stage of their lives. The opportunities are abundant and the potential is undeniable.

If you are considering embarking on this exciting entrepreneurial journey, you are not alone. We invite you to clear up any doubts you may have: write to us at tasconsultoria@tas-sl.es and schedule a personalized consultation to start your own senior entrepreneurship. We are here to support you every step of the way to business success in this new stage of your life!