Madagascar has the highest percentage of olderpreneurs (entrepreneurs over the age of 50) compared to anywhere else in the world, according to analysis from Allstar Business Solutions.
The research presented in an interactive heat map looks at the prevalence of olderpreneurs in the latest Global Entrepreneurial Index, highlights the level of Total early-stage Entrepreneurial Activity (TEA) around the world from those in the 55-64 age bracket.
TEA is the main indicator used to assess the percentage of the working-age population both about to start an entrepreneurial activity and that have started one in the last three and a half years.
Madagascar was found to have the highest proportion of olderpreneurs in the world, with 39% of the 55+ population accounted for in the TEA index. Bosnia and Herzegovina was at the bottom of the leaderboard with only 1.5%.
Slovakia was the highest ranking European economy, placed ninth in the world with 13.1%, while Estonia (8.7%) and Ireland (7.7%) followed in the European rankings.
The UK was in position 34 with a 5% score and across the Atlantic, the USA ranked in position 23 of 54 economies indexed with a score of 7.4%.
The top five economies with the highest level of olderpreneurial activity were;
- Madagascar (39%)
- Ecuador (23%)
- Chile (17.1%)
- Peru (16.7%)
- Lebanon (16.1%)
Anthony Trigo, Head of Digital, at FLEETCOR – Allstar’s parent company – said: “olderpreneurs are challenging the notion that twenty-somethings dominate the world of entrepreneurship.
“Nearing retirement often means having more disposable time and income, and less pressure to support offspring, which means there’s a lower start-up risk compared to earlier in life. That’s what makes it so tempting for people to go at it on their own.”
A year-on-year comparison to the 2015-16 index shows that Lebanon had almost a 10% reduction in TEA in the last two years, down from 25.6% to 16.1% in 2017, whilst Ecuador – ranked second in 2017 – only reduced slightly from 25.8% to 23%.
Source of original research: https://www.allstarcard.co.uk/