Opportunity- and Necessity-Driven Self-Employment Among Older People in Finland

To date, few empirical studies have attempted to highlight the impact of the socio-economic characteristics of older entrepreneurs according to whether they are driven by necessity or opportunity. Tervo and Haapanen contribute to the economics of ageing by showing that opportunity- and necessity-driven senior entrepreneurs differ in terms of socio-economic characteristics. This chapter utilizes a longitudinal data set from Finland. Individuals aged between 55 and 70 entering self-employment are grouped in terms of pull and push motivations. Profiles of entrepreneurs are developed using personal, family, and environmental characteristics. The results show that opportunity-driven older self-employed workers are more likely to be highly educated males, whereas necessity-driven older self-employed workers are often less educated females and individuals who live in rural areas.