w88 online casino entrepreneurship: Catching a second wave

Mehmet Tosun
Director of the Ozmen Center for w88 online casino

This blog was published by the Oxford Institute of Population Ageing at Oxford University on March 2, 2022.

There may be some concern thatentrepreneurial activities would decreaseas countries go through population ageing. This concern is more pronounced in higher-income developed economies, which exhibit a faster aging trend. The underlying assumption with this argument is that w88 online casino is driven by younger individuals in the population. With falling fertility rates and ageing populations, it is thought that w88 online casino falters as the demographic structure shifts towards older populations. There is another interesting trend, however. In line with the faster ageing in developed countries, we also see a higher degree of w88 online casino byw88 online casino individualsin those countries compared to countries with younger populations. It is also not clear if there is a decrease in w88 online casino in ageing countries over time that would cause major concern. For example,data from the Early-Stage w88 online casino Series of the Kauffman Indicators of w88 online casinodoes not show a steady decrease in w88 online casino, measured by the rate of new entrepreneurs, over the 1996-2020 period. On the contrary, the rate of new entrepreneurs actually increased about half the time, with a particularly strong increase from 0.31% in 2019 to 0.38% in 2020.

It is particularly important that there has been a rise in “w88 online casino entrepreneurship,” which one can define as entrepreneurial activities by individuals who are50 or older. According to Kauffman Indicators of w88 online casino, the 45-54 age group had the highestrate of new w88 online casino(0.49%) in 2020, compared to younger age groups. The rate for that age group also showed a clear upward trend in the 1996-2020 period. There was sharp increase of about 38% in the rate of new w88 online casino for the 45-54 age group from 2019 to 2020. Even the rate for the 55-64 age group (0.41%) was significantly higher than the rate for the 20-34 age group (0.28%) in 2020. In a recentarticle, Elizabeth Isele and Edward Rogoff show a similar pattern using other measures such as the total entrepreneurial activity (TEA) by theGlobal w88 online casino Monitor(GEM) and data from the U.S. Census Bureau and other sources. All these point to the fact that there is more w88 online casino entrepreneurship now than what we have seen in the last few decades.

Why is the rise in w88 online casino entrepreneurship important? Societies can benefit a lot from older entrepreneurs. They bring a lot of experience and knowledge from their previous employment. They also have more accumulated wealth compared to younger age groups, which would provide them with financial resources to start new businesses and create jobs for the economy. Given the older entrepreneurs’ financial resources and wealth of experience, those new businesses may have considerable social impact as well. Isele and Rogoff also point to a positive health impact since the involvement of older individuals in entrepreneurship may help with their mental well-being.

At the same time, there are few things we need to keep in mind regarding w88 online casino entrepreneurship. Older entrepreneurs may not tolerate risk as well as younger entrepreneurs. It is important to note that not all are opportunity entrepreneurs. Some of those who lose their jobs before retirement may turn to entrepreneurship out of necessity. A report by theOrganization for Economic Cooperation and Development(OECD) notes that older entrepreneurs may be “pulled” or “pushed” into entrepreneurship. Older entrepreneurs may also lack some technical skills needed in the business world these days. Therefore, if we are looking at more w88 online casino entrepreneurship now and in the future, governments, business groups and other stakeholders should be supportive. After all, any kind of entrepreneurship has the great potential to bring considerable economic and social outcomes that benefit the entire society.