Unveiling Senior Entrepreneurs’ Motivations in the Psychological Domain

Marlina Muhamad, Mohd Fazil Jamaludin, Fariza Hanis Abd Razak, Haryani Haron

Abstract


The global demographic landscape is witnessing a transformative shift marked by an aging population, prompting an increased emphasis on sustained economic participation and personal fulfilment for seniors. In response to this societal evolution, senior entrepreneurship has emerged as a compelling phenomenon, providing seniors a pathway to contribute economically while pursuing personal and professional fulfilment. However, despite the growing recognition of the unique contributions of senior entrepreneurs, a significant research gap exists concerning the nuanced psychological determinants propelling seniors into entrepreneurship, particularly in terms of motivation. This conceptual paper addresses this gap by focusing on the psychological characteristics. The study's overarching objective is to explore the intricate realm of senior entrepreneurship, specifically delving into the motivational drivers of senior individuals engaging in entrepreneurial activities. To achieve this, the research employs a comprehensive exploration methodology, drawing insights from existing studies on the psychological facets. Implications of the study extend beyond academic understanding to inform strategies supporting and fostering senior entrepreneurship. Recognizing the increasing importance of mature-age entrepreneurship in the context of global aging, this research contributes valuable insights to facilitate the development of policies and initiatives that promote the economic engagement and well-being of seniors in entrepreneurial pursuits.


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