The Rise of the Experienced

How “Olderpreneurs” and “Returnships” are Changing the Game in Entrepreneurship and Careers

The skills and experience of older individuals are becoming viewed as an underutilised economic and social resource for the economy as a whole by research institutions, employers and now ever more so than before government departments.

Many individuals in their later life are also looking for ways to remain not just economically active but rewarded and fulfilled and this includes the route of entrepreneurship which has always been an exciting possibility for many more people than ever realise it — and that includes the growing numbers of older people. In fact the UK government is aiming to change the language by encouraging the labelling of over 50s ‘older’ workers to ‘experienced’ and promoting the narrative that older people are the most skilled and experienced people and getting to a position that turning 50 is no longer a moment of anxiety and becomes the start of at least two decades of fulfilment.

In the latest budget, British Chancellor Jeremy Hunt introduced the concept of “Returnerships” to help older workers return to work. Returnerships will raise awareness of these pathways, provide a clear route back into work, and encourage employers to hire older workers.

As someone who has worked in the employability and skills sector for over two decades and meets the criteria of being over 50, it is crucial for employers and policymakers to recognise the potential of this talent and create an environment that supports their aspirations and contributions. This can include measures such as flexible working arrangements, training and development programs, and access to capital and resources for entrepreneurs.

This positive trend highlights the valuable contributions of experienced individuals in the workforce and challenges the outdated notion that age is a barrier to success in entrepreneurship and careers. It is essential to leverage this opportunity and tap into this underutilised resource to drive innovation and growth in organizations. Embracing diversity in age, experience, and background can create a more vibrant and dynamic economy that benefits everyone.