Entrepreneurship, Self-Employment and Retirement

278 Pages·2015·1.885 MB·English

by  Natalie Sappleton, Fernando Lourenço (eds.)

Entrepreneurship, Self-Employment and Retirement
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Entrepreneurship,
Self-Employment and
Retirement
Edited by
Natalie Sappleton
Manchester Metropolitan University, UK
and
Fernando Lourenço
Institute for Tourism Studies, China
Selection, introduction and editorial matter © Natalie Sappleton and
Fernando Lourenço 2015
Individual Chapters © the Contributors 2015
Softcover reprint of the hardcover 1st edition 2015 978-1-137-39837-6
All rights reserved. No reproduction, copy or transmission of this
publication may be made without written permission.
No portion of this publication may be reproduced, copied or transmitted
save with written permission or in accordance with the provisions of the
Copyright, Designs and Patents Act 1988, or under the terms of any licence
permitting limited copying issued by the Copyright Licensing Agency,
Saffron House, 6–10 Kirby Street, London EC1N 8TS.
Any person who does any unauthorized act in relation to this publication
may be liable to criminal prosecution and civil claims for damages.
The authors have asserted their rights to be identified as the authors of this work
in accordance with the Copyright, Designs and Patents Act 1988.
First published 2015 by
PALGRAVE MACMILLAN
Palgrave Macmillan in the UK is an imprint of Macmillan Publishers Limited,
registered in England, company number 785998, of Houndmills, Basingstoke,
Hampshire RG21 6XS.
Palgrave Macmillan in the US is a division of St Martin’s Press LLC,
175 Fifth Avenue, New York, NY 10010.
Palgrave Macmillan is the global academic imprint of the above companies
and has companies and representatives throughout the world.
Palgrave® and Macmillan® are registered trademarks in the United States,
the United Kingdom, Europe and other countries.
ISBN 978-1-349-48532-1 ISBN 978-1-137-39839-0 (eBook)
DOI 10.1057/9781137398390
This book is printed on paper suitable for recycling and made from fully
managed and sustained forest sources. Logging, pulping and manufacturing
processes are expected to conform to the environmental regulations of the
country of origin.
A catalogue record for this book is available from the British Library.
Library of Congress Cataloging-in-Publication Data
Entrepreneurship, self-employment and retirement / [edited by] Natalie
Sappleton, Fernando Lourenço.
pages cm
Includes bibliographical references and index.
ISBN 978-1-349-48532-1
1. Older people – Employment. 2. Entrepreneurship. 3. Retirement.
4. Self-employed. 5. Retirement income. I. Sappleton, Natalie.
HD6279.E57 2015
331.3998—dc23 2014050089
Contents
List of Figures v iii
List of Tables i x
Acknowledgements x i
Notes on Contributors xii
Introduction: Pre- and Post-Retirement Self-Employment:
Broadening Existing Horizons 1
Natalie Sappleton and Fernando Lourenço
1 Retirement Planning, Financial Literacy and Small
Business Owners 11
Tami Gurley-Calvez, Kandice A. Kapinos and Donald Bruce
Introduction 11
Previous literature and theoretical framework 12
Data and methods 15
Results 18
Discussion and conclusion 26
Acknowledgements 27
Appendix 27
References 40
2 One Size Does Not Fit All: Uncovering Older
Entrepreneur Diversity through Motivations, Emotions and
Mentoring Needs 42
Thomas Wainwright, Ewald Kibler, Teemu Kautonen and
Robert Blackburn
Introduction 42
Older entrepreneurship: a sympathetic critique 45
Methodology 49
Differentiation in older entrepreneur motivations 52
Feeling the pressure? The experienced emotions of older
entrepreneurs 57
Identifying gaps in older entrepreneurship mentoring 5 9
Conclusion 60
References 63
v
vi Contents
3 Entrepreneurship in a Context of Pending Retirement:
The Lived Experience of Older Entrepreneurs 67
Oliver Mallett and Robert Wapshott
Introduction 67
Entrepreneurship and older entrepreneurs 68
Studying the lived experience of older entrepreneurs 71
Findings 74
Discussion 82
Conclusion 85
References 86
4 Becoming an Entrepreneur after Retirement: Results from a
Longitudinal Study in the Netherlands 90
Hanna van Solinge
Introduction 90
Background information on the Netherlands 93
Theoretical approaches to self-employment as a late
career choice 94
Who opts for self-employment after retirement? 95
Post-retirement work arrangements 97
Consequences for quality of life 102
Discussion 102
Appendix : data 107
References 109
5 What Drives Post-Retirement-Age Knowledge-Based
Self-Employment? An Investigation of Social, Policy and
Individual Factors 112
Ting Zhang
Introduction 112
Factors for post-retirement - age self-employment 113
Limited institutional factors addressed in previous literature 118
Methodology 120
The model 120
Empirical findings 122
Limitations 126
Conclusion and discussion 127
References 131
6 Entrepreneurship in Mid-career 134
Margaret Patrickson, Alison Say and Leonie Hallo
Introduction 134
Contents vii
Background to the MCE transition 1 35
The opportunity 138
The individual MCE 138
The transition to entrepreneurship 147
Conclusion 155
References 157
7 Self-Employment among Canadian Seniors: Trends and
Financial Well-Being 160
Sharanjit Uppal
Introduction 160
Literature review 161
Data sources and definitions 164
Results 166
Summary 182
References 184
8 Hybrid Entrepreneurship during Retirement: Comparison of
Motives and Aspirations 187
Erno T. Tornikoski, Anmari Viljamaa and Elina Varamäki
Introduction 187
Background literature 189
Data collection and sample 194
Results 198
Conclusion 201
R eferences 205
9 Self-Employment around Retirement Age 2 09
Stefan Hochguertel
Introduction 209
Data and descriptives 211
Empirical methodology 223
Estimation results 227
Conclusion 251
Documentation 253
References 256
Index 259
List of Figures
4.1 Annual number of start-ups according to age
of applicant 95
4.2 Mean job satisfaction (on a 1–5 scale) in career and
bridge job for self-employed and wage-employed persons 1 01
4.3 Mean pre- and post-retirement life satisfaction according to
labour force attachment 1 03
6.1 Entrepreneurial processes of MCEs 1 37
7.1 Employment rates among Canadian men and women
65 years of age and older 1 67
7.2 Paid employment and self-employment as a proportion of
employed senior men and women 1 68
7.3 Self-employment rates by province 1 69
7.4 Self-employment categories 1 70
7.5 Self-employed Men and Women as a percentage of total
employed, by age group 1 74
9.1 Labour force participation and self-employment,
men, 50–75 218
9.2 Distribution of weekly hours worked, if participating,
men, 50–75 226
viii
List of Tables
1.1 Self-employment measures by year 16
1.2 Outcome variables 17
1.3 Expected retirement age 19
1.4 Retirement literacy and planning outcomes 20
1.5 Selected regression results – expected retirement age 23
1.6 Selected regression results – other outcomes 24
1.7 Selected regression results – other outcomes 25
A.1 Yearly cross-sectional regression results – expected
retirement age – current self-employment status 28
A.2 Yearly cross-sectional regression results – expected
retirement age – part-time or full-time self-employment
status 29
A.3 Yearly cross-sectional regression results – expected
retirement age – mostly self-employed during career 30
A.4 Yearly cross-sectional regression results – expected
retirement age – self-employment intensity during
the HRS waves 31
A.5 Yearly cross-sectional probit/regression results – other
outcomes: Part I – current self-employment status 32
A.6 Yearly cross-sectional probit/regression results – other
outcomes: Part I – part-time or full-time
self-employment status 33
A.7 Yearly cross-sectional probit/regression results – other
outcomes: Part I – mostly self-employed during career 34
A.8 Yearly cross-sectional probit/regression results – other
outcomes: Part I – self-employment intensity during
the HRS waves 35
A.9 Yearly cross-sectional probit results – other outcomes:
Part II – current self-employment status 36
A.10 Yearly cross-sectional probit results – other outcomes:
Part II – part-time or full-time self-employment status 37
A.11 Yearly cross-sectional probit results – other outcomes:
Part II – mostly self-employed during career 38
A.12 Yearly cross-sectional probit results – other outcomes:
Part II – self-employment intensity during the HRS waves 39
ix