The perceptions of Australian senior entrepreneurs on the drivers of their entrepreneurial activity

Abstract

Purpose Why is self-employment an attractive option for certain seniors and what drives seniors into business start-ups? In this study, the motivations and preferences of senior entrepreneurs in Australia, to become self-employed, by means of business start-ups, are explored. The purpose of this paper is to provide empirical basis for policy implications. Design/methodology/approach A mixed methods study is conducted. Members of the National Senior’s Association in Australia were interviewed and surveyed. The semi-structured interviews identified the key factors influencing senior entrepreneurs in relation to self-employment and entrepreneurial choices at a later career stage. The survey collected information on intentionality, motivation, skills, opportunities, success, satisfaction, participation, barriers, benefits, education and training, and perceptions of policy support for senior entrepreneurs. Findings Respondents gave an account of the prevalence of pull factors motivating their choice of an entrepreneurial career. Multivariate statistical analysis of survey responses showed that senior entrepreneurs are more driven by opportunity than necessity and are primarily internally motivated. Research limitations/implications Results of this study suggest a weak link between motivation by others and the act of start-up, but this may also imply that those seniors who are more likely to become entrepreneurs are more likely to ignore the impulses from their social context. This requires further investigation to ensure a robust identification of drivers and an elimination of contextual effects. Further research is suggested to compose a relevant model structure in different contexts and a representative sample to confirm the model outcomes. Originality/value This is the first mixed methods study of the antecedents of senior entrepreneurs’ start-up intentions in Australia. The study also uses entrepreneurial activity as opposed to intention as its dependent variable, which allows for a more accurate evaluation of antecedents to the senior entrepreneurship phenomenon.