Senior Enterprise

One third of the News Zealand workforce is over 55 and has one of the highest rates of people over 65 still working at 24 percent and data from Stats NZ shows that around 185,000 people categorised as older workers who are self-employed.

Many workers in their 50s and 60s struggle to find jobs when they want or need to change roles. This means that self-employment can provide an opportunity for those who want to remain in work but are potentially excluded from mainstream employment

Self-employment is a way to increase financial security whilst enabling continued economic and social participation in society

Senior entrepreneurship resources

A range of resources are available for older workers interested in self-employment. 

• Better Work in Later Life includes a self-assessment tool looking at what is involved and suggesting areas you may need to consider or review as you plan your business.
  
• govt.nz provides tips, tools, guides for anyone thinking about starting a business.
  https://www.business.govt.nz/starting-a-business
  
  
• Flexi-wage for self-employment. Support offered by Work and Income for eligible people to access funding as they start out in business.
  https://www.workandincome.govt.nz/products/a-z-benefits/flexi-wage-self-employment.htm

Senior Enterprise Pilots 2023

The Office for Seniors funded a series of senior enterprise pilot schemes targeting older workers (aged over 50) who were underrepresented in self-employment. Notably Māori, Pasifika and women.

In total, 84 older workers took part in a range of programmes delivered by the following providers:

• Creative HQ in Wellington supported 15 individuals using existing programmes
• Nelson Tasman Chamber of Commerce provided its PRIMETIME programme which offered mentoring, needs based learning and Chamber membership.
• Ngā Toi Hawke’s Bay Charitable Trust ran a wānanga-based business start-up and development programme supporting 15 Mātāpuputu Māori Rakahinonga (Māori Senior Entrepreneurs) over nine months.
• Trust MYRIVR in Pukekohe supported 15 people with a particular focus on Pasifika, Māori and women
• Univentures Ltd delivered a nationwide, online course based on its existing coaching and mentoring programmes

Evaluation

An evaluation of all the pilot programmes was commissioned. This report can be found here https://officeforseniors.govt.nz/assets/Senior-Enterprise-Pilot-Report-Final.pdf

The evaluation identified best practice insights that should guide future designs including:

• The need for age specific programmes
• The need for programmes focused on starting a business, as opposed to developing a business.
• Confirming the importance of to support people later in life into business  especially at earlier stages of exploring ideas and initial start up