Over 50s businesspeople 'are not risk-averse'

An over 50s business initiative has challenged the common perception that older businesspeople are averse to taking risks.

A business charity for older people has called for an end to the popular stereotype that over 50s entrepreneurs are averse to taking risks.

The Prince's Initiative for Mature Enterprise (PRIME) has challenged the idea that older businesspeople are less worthy of investment due to their cautious nature.

PRIME's chief executive Laurie South states that this perception is a "very sweeping generalisation", which she suggests could stem from commentators mistaking prudence for risk-aversion.

Furthermore, he highlights recent research from the National Endowment for Science, Technology and the Arts which shows that over 50s are responsible for 27 per cent of successful start-up firms in the UK.

Mr South added: "These arguments have never stopped those fond of the risk-averse argument advancing it as if it were established truth."

The initiative will later this year be conducting a series of roadshows across the UK designed to provide advice and encouragement to "olderpreneurs" looking to start their own businesses.

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