Over 50s 'should consider starting a business'

A business initiative has called for over 50s to think of starting their own enterprises in order to fund themselves during their later years.

An enterprise organisation for older people has called for over 50s to consider starting their own businesses.

The Prince's Initiative for Mature Enterprise (PRIME) has suggested that doing so could provide over 50s with a flexible method of becoming financially independent, reports the Star.

It also stated that businesses started by older people have a better survival rate, allowing those involved to maintain a steady income without needing to rely on a pension.

PRIME's comments come after the initiative this week attended a business exhibition in Doncaster in order to provide older people with advice and support on their own business initiatives.

It pointed to a number of successful over 50s entrepreneurs in the local area who have been able to establish themselves in areas such as garden maintenance and teaching advice since retiring.

This comes after insurer Aviva last week advised older people to ensure they have a range of financial options in place to fund them during their retirement years.

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