Record Numbers of People Over 60 Are Turning to Self-Employment Amid Cost-of-Living Crisis

Sunday, 25 August 2024, 16:59

Record numbers of people over 60 are entering self-employment as the cost-of-living crisis persists. Research highlights the growing trend of older workers adapting to economic pressures. This shift reflects a significant change in the labor landscape, emphasizing the resilience and entrepreneurial spirit of older individuals.
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Record Numbers of People Over 60 Are Turning to Self-Employment Amid Cost-of-Living Crisis

Growing Trend of Self-Employment Among Older Workers

As the cost-of-living crisis continues to impact households, a surge in self-employment among those aged 60 and above has been observed. According to research by Rest Less, this demographic is increasingly seeking independence through entrepreneurship.

Key Findings from Recent Research

  • Increased Financial Pressure: Many older workers cite rising living costs as a primary motivator.
  • Desire for Flexibility: Self-employment allows for greater work-life balance.
  • Resilience of Older Workers: This shift signifies a robust willingness to adapt.

Opportunities and Challenges

While there are undeniable benefits, including personal growth and financial autonomy, challenges such as access to resources and technology exist. Older individuals are leveraging their experiences but may face hurdles in navigating modern business landscapes.

Conclusion on Self-Employment Trends

The transition to self-employment for those over 60 showcases a significant shift in workforce dynamics. As the economy evolves, this trend is likely to continue, underscoring the importance of supporting older entrepreneurs.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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