The Motivations, Business Satisfaction and Commitment of Career and Later-Life Older Entrepreneurs

The demographics, motivations, rewards, satisfaction, and commitment of Canadian career and later-life older entrepreneurs were examined. The two groups of respondents exhibited noteworthy contrasts. In terms of demographics, later-life older entrepreneurs were significantly less likely than career older entrepreneurs to be in management, and they were more likely to be female, unmarried, working alone, and engaged part-time. In terms of motivations, the career-long pursuit of entrepreneurship is strongly connected with the urge for independence; with a more singular approach to business, as registered by a significantly lower motivation for achieving work–life balance; and with higher values attached to start-up rewards, career success, and overall satisfaction with the business. By comparison, later-life older entrepreneurs focus significantly more on intrinsic rewards like work–life balance and achieving personal fulfillment. However, both groups posted high, statistically indistinguishable satisfaction with their businesses and commitment to self-employment.

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