Entrepreneurship in a Context of Pending Retirement: The Lived Experience of Older Entrepreneurs

Mallett, Oliver; Wapshott, Robert

doi:10.1057/9781137398390_4

Cited by 5 publications

(5 citation statements)

References 39 publications

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“…Rather, biological and mental health, cognitive efficacy, social competence, personal control, and life satisfaction are more important as the yardstick for aging well. This intrinsic motivation-driven senior entrepreneurship is noticeably different from that considered "typical" of entrepreneurs among the young and mid-age groups (Liu et al, 2019;Mallett & Wapshott, 2015).…”

Section: Implications For Theorycontrasting

confidence: 56%

“…In comparison to younger generations who tend to be both extrinsic and intrinsic driven, but more extrinsic oriented (i.e., the importance of money and fame), less patient and persistent, more ambitious and taking risks, and less experience with social skills (Liu et al, 2019;Mallett & Wapshott, 2015), we discover that senior entrepreneurs are more intrinsically oriented, with greater persistence and patience dealing with problems. Their ways of running business are not too ambitious and less risk taking, but more carefully planned and deliberate.…”

Section: Implications For Theorymentioning

confidence: 76%

“…As they seek to share their knowledge and search for flexibility in their work (Platman, 2003), intrinsic rewards may be more important motivators for entrepreneurial activity. A better understanding of these primary goals and intrinsic rewards can reveal the exact motivators of senior entrepreneurship and suggest whether these goals and rewards are really different from those of younger entrepreneurs (Liu et al, 2019;Mallett & Wapshott, 2015).…”

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confidence: 99%

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Achieving aging well through senior entrepreneurship: a three-country empirical study

Zhu

Collins

et al. 2021

Small Bus Econ

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and motives on the well-being among seniors who launch their entrepreneurship journeys. Based on indepth interviews with senior entrepreneurs in China, India, and Turkey, we contribute to extant knowledge by linking separate paradigms. These are as follows: goal contents and intrinsic motivation-driven entrepreneurship, management of inner and outer challenges, and achievement of the eventual outcome of aging well. We also investigate the culture-specific drivers of senior entrepreneurship in a comparative framework. Plain English SummaryThe implication of this study is that senior entrepreneurs bring complex web of intrinsic motivations for their entrepreneurial acts with the impact on their well-being and produce societal benefits. The cultural dimensions also play a significant role in pursuing entrepreneurial ventures. KeywordsActive aging • Aging well • Cultural elements • Goal contents • Intrinsic motivation • Senior entrepreneurship JEL Classification L26 1 IntroductionThe increasing trend toward an aging population and workforce in many societies challenges governments,

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Section: Implications For Theorycontrasting

confidence: 56%

Section: Implications For Theorymentioning

confidence: 76%

mentioning

confidence: 99%

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Achieving aging well through senior entrepreneurship: a three-country empirical study

Zhu

Collins

et al. 2021

Small Bus Econ

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“…As retirement decisions involve uncertain cost-benefit calculations, individuals are sensitive to signals from their social environment and consequently local embeddedness (Forster-Holt, 2022) or age norms (Radl, 2012) can affect them. Pending retirement can be a complex and highly emotional process in the context of entrepreneurship (Mallett and Wapshott, 2015;Morris et al, 2020). Full retirement requires a person team to relinquish ownership and control of the firm, and the exit strategy represents the means by which this is accomplished.…”

Section: Entrepreneurial Exit and Exit Strategymentioning

confidence: 99%

Retiring entrepreneurs and succession planning: does entry mode determine exit strategy?

Viljamaa,

Joensuu-Salo,

Varamäki

2024

JSBED

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PurposeThe purpose is to examine the relationship between entrepreneurs’ exit strategies and modes of entry. The topic of exit strategies in the context of approaching retirement warrants further attention.Design/methodology/approachWe apply logistic regression to analyse 1,192 responses to an online survey of firms with entrepreneurs aged over 55.FindingsFamily successors are more likely to choose family succession and buyers to choose to sell, but the association between founding and exit mode cannot be confirmed. Firm size is also significant. Our findings suggest that entry and exit via a business transfer are linked. Entrepreneurs might be influenced by their form of entry when choosing their exit strategy.Research limitations/implicationsThe data were collected from a single European country, limiting generalisation. Future research should incorporate intervening variables not controlled for here, such as, entrepreneurial experience. Future studies should also seek to test the existence of imprinting directly, as it is implied rather than verified here.Practical implicationsIf the entry mode has a lasting effect on the entrepreneur as our results suggest, thus influencing the exit strategy selected, entrepreneurs could benefit from greater awareness of the imprinting mechanism. Increasing awareness of imprinted biases could unlock the benefits of exit strategies previously overlooked.Originality/valueThe study is the first to consider sale, family succession and liquidation as exit strategies in relation to the original entry mode of ageing owners. It contributes to the understanding of exit strategies of ageing entrepreneurs and proposes using entrepreneurial learning and imprinting as lenses to clarify the phenomenon.

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“…Shoshanna also narrates her disappointment when her grown-up sons were critical of her entrepreneurial attempts and perceived lack of success measured against powerful entrepreneurial norms, suggesting that adult children are not always straightforwardly advantageous for the older self-employed. While McKay (2001) argues for the freedom of self-employed older women without responsibility for their children, other studies have identified how forms of responsibility for adult children and wider family obligations can persist as constraints for older self-employed people (Mallett and Wapshott, 2015a). Based on in-depth interviews with older entrepreneurs in the UK, Kibler et al (2015) argue that family and friends are distinctive social reference groups and cannot be simplified to one social category.…”

Section: Introductionmentioning

confidence: 99%

Being a Self-Employed Older Woman: From Discrimination to Activism

Meliou¹,

Mallett

Rosenberg³

2018

Work, Employment and Society

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This article presents an autobiographical account of an older woman's lived experience of selfemployment. Little is known about women who experience ongoing self-employment into their 50s and beyond. Shoshanna's personal narrative describes her experiences and the challenges she has faced as she reflects upon her attempts to grow and sustain her business and the implications of ageism and gender inequality in laying a claim to entrepreneurship. The narrative proceeds to reflect on her activist work, as it is constructed through the creation of a social enterprise to support older people. Shoshanna's narrative provides valuable insights into the intersection of age and gender in self-employment moving from discrimination to active support.

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Entrepreneurship in a Context of Pending Retirement: The Lived Experience of Older Entrepreneurs

Cited by 5 publications

References 39 publications

Achieving aging well through senior entrepreneurship: a three-country empirical study

Achieving aging well through senior entrepreneurship: a three-country empirical study

Retiring entrepreneurs and succession planning: does entry mode determine exit strategy?

Being a Self-Employed Older Woman: From Discrimination to Activism

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