Entrepreneurship after 50

With the coronavirus crisis, but also in previous years, many people over 50 have lost their jobs. The unemployment rate among this age group is estimated to be 12.5%.

Many companies, in times of recession, choose to do without the people who have more experience and better know the sector and the company itself, if they have been working there for many years.

However, they also generally receive higher salaries. And that’s one of the reasons for choosing to hire younger staff.

In these cases, instead of choosing to maintain expertise, knowledge, and team building, some companies let them go, leaving them in a professional and vital limbo.

A new career at 50

Years ago, when we were 50 years old, we were almost elderly, but today we are in the prime of life and our faculties, both personal and work.

However, it is difficult that there are companies that want to hire them.

For this reason, many people of this age who have lost their jobs choose to start their own businesses.

Advantages and disadvantages

If you had a leadership position in previous jobs, it may be easier to take care of the management and accounting of your own business.

However, if the person was in a less responsible position, they will have to train to run their own business.

The main concern, inevitably, will be both the financing and the payment of taxes and contributions.

Risk to win, undertake

For this reason, and as the saying goes: “He who does not risk, does not win” and there are more than 50 entrepreneurs who have seen a specific niche and have taken advantage of it.

In times of crisis, it is even easier to find a lack in society and launch to fill it.

Now that we are more secluded at home, online or home delivery businesses have multiplied and an opportunity may be found there.

Be that as it may, it is never too late to retrain professionally and it is best to be forewarned and train earlier, if possible.

Perhaps you will find your own vocation thanks to a crisis or a dismissal, even after 50.