Factors influencing senior entrepreneurship in Chile. A GEM perspective

Abstract

Objective: The aim of this research is to identify which are the internal factors that lead senior (+55 years) to entrepreneurship in Chile and its comparison with a selected group of Latin American countries. Methodology: To achieve the previous goal, the analysis is based on the Adult Population Survey of the Global Entrepreneurship Monitor (GEM) of 2016 and uses a logistic regression model applying different variables on the TEA (Total early-stage Entrepreneurial Activity). Results: The research shows that occupation, level of education, age, knowledge of other entrepreneurs and the entrepreneur’s confidence in their own skills are key variables. Limitations: These study does not consider the external perspective, which reflects how the environment influences entrepreneurial intentions. Practical implications: Based on these results, governments can better understand what factors they should consider when configuring policies to support entrepreneurial activity in this demographic sector. Furthermore, this work contributes to the development of knowledge about senior entrepreneurship in the country and to the identification of best practices to be used in other countries.