Mid‐career entrepreneurial learning

Abstract

Purpose -Recent research on entrepreneurship education has emphasised school, college and university students, with less attention being paid to entrepreneurial learning among people in older age groups. However the ageing population of the UK and other developed countries means that there is a need for an increasing proportion of the existing working population, from a broad social and demographic background, to develop entrepreneurial skills in mid-career in order to find new opportunities for economic activity and to extend their working lives. This goal requires better understanding of the learning needs and processes of mid-career entrepreneurs (MCEs) between the ages of 35 and 55. This article aims to enhance the understanding of mid-career entrepreneurial learning by exploring how and why people develop entrepreneurial skills in mid-career, how these skills are deployed in working on opportunities, what types of learning are most effective, and conclusions for the design of MCE learning experiences. Design/methodology/approach -A research method was used with emergent MCEs participating in a postgraduate entrepreneurship module. This evaluated learning, skill acquisition and practice to inform both learner and educator. Findings -This paper explores the types of opportunities identified and the learning methods used. It proposes implications for mid-career learners based on a framework for entrepreneurial learning, in the context of the broader perspectives of mid-career and mid-life change and development. It develops a career stage model for entrepreneurship, and discusses the implications for the design of learning programmes for MCEs. Research limitations/implications -MCEs have enhanced lifelong and work-based learning and experience compared with younger people, but display great variety in their aspirations, work and career experience, educational attainment, ethnic and national diversity, and participation in social networks. The article proposes ways of enhancing mid-career entrepreneurial learning. Originality/value -This paper makes a distinctive contribution to the understanding of entrepreneurial learning in a significant age group.

The Influence of Personality Traits and Demographic Factors on Social Entrepreneurship Start Up Intentions

“…However, younger individuals are often 'pulled' or lured by greater choices of employment due to their higher financial, family commitments and educational qualifications. As such, there may be a place for adult entrepreneurship education to buttress the knowledge competence in bridging the gap between the current employment status and identity with long-term personal aspiration in making midlife self-employment transitions (Rae, 2005).…”

A longitudinal analysis of the influence of career motivations on entrepreneurial intention and action

“…In fact, we know that during entrepreneurial journeys individuals develop competences and networks that can later be reused in other settings, be they entrepreneurial or employee paths (Bates, 2005;Rae, 2005). It will not be a surprise to advisors in contact with individuals entering the workforce that one of their concerns is the management of their future careers and the risks associated with entrepreneurial paths.…”

Switching to Entrepreneurship in Mid Career: A Singaporean Perspective

“…This age level is chosen on the basis that several researchers have used it as a guide for their studies on mid-career change (Owen and Flynn, 2004;Rae, 2007a). These researchers find that this is the age where people start seriously thinking of career switches (Holmes and Cartwright, 1993;Rae, 2005) as was seen in the July 2008 report from the Ministry of Manpower in Singapore (Employment Statistics, 2008) where the age group 30-49 years had the highest level of retrenchment, at 63%. Of the 23 participants, 20 were over 35 years old when they made the career switch while one was 31 years and the other two were 33 years old.…”

“…Potential issues were reflected in a 2006 survey of employers in Singapore which expressed concerns over the serious implications of an aging workforce for businesses over the next 15-20 years (Wyatt, 2006a). Increasingly, self-employment or entrepreneurship may be the only alternative for those facing livelihood issues to stay employed longer (Rae, 2005;Chan, 2009;Employment Statistics, 2008). Economically there are added incentives in that Singapore's social security payments do not encourage unemployment and remaining in some form of income is essential for family support.…”