“Perhaps surprisingly, most individuals who join our 8-week eLearning programme are women. Approximately 60% of our participants identify as such, and many have returned to entrepreneurship after caregiving or recovering from illness”, says Suzanne Noble, Co-Founder, Startup School for Seniors who has been sharing her expertise on learning through the lifecourse as part of our Lifelong learning project with Phoenix Insights

When considering an older entrepreneur, the typical image that comes to mind is that of a white man who has recently retired from a corporate job and now has the time to pursue his grand vision for a globally recognised business. However, this stereotype only applies to a small minority of startup founders. My co-founder, Mark Elliott, and I have had a different experience, which led us to create Startup School for Seniors, an eLearning programme aimed at helping those for whom self-employment may be their only viable option.

Perhaps surprisingly, most individuals who join our 8-week eLearning programme are women. Approximately 60% of our participants identify as such, and many have returned to entrepreneurship after caregiving or recovering from illness. In line with Office for National Statistics (ONS) statistics, about 1 in 5 individuals aged 50 and above who seek our services are still informal caregivers. For many of them, starting a business provides one of the few flexible job opportunities that can be balanced alongside their demanding lives as they navigate the multiple responsibilities associated with being part of the “sandwich generation.”

Although our Startup School for Seniors follows a curriculum similar to an MBA program or other startup incubators aimed at supporting rapid-growth businesses, our approach is directed at a cohort that prefers a slower, more thoughtful pace.

Based on our experience since launching the programme almost three years ago, we have found that what often hinders people from achieving success is not a lack of knowledge or ability but rather the fear of failure. This fear is entirely understandable, particularly for individuals who have spent most of their lives in roles where failure was frowned upon and could even lead to dismissal. It takes time to grasp and fully embrace the startup mindset that encourages failing fast and frequently. Our goal is to mitigate the inherent risks associated with entrepreneurship.

This is where the peer-to-peer support offered through our weekly group Zoom sessions and one-on-one mentoring becomes invaluable. These interactions help nurture ideas and transform them into businesses more likely to succeed. By hearing from others facing similar challenges, individuals gain valuable feedback and build confidence and resilience. These qualities are essential for navigating the rollercoaster ride that often accompanies the journey of starting a new venture.

Many of our programme participants choose to return for a second round, as we have come to realise that it is part of their learning journey. They absorb the material and then gain the confidence to put it into practice. By the end of the 8-week course, many have already started earning money, while others are on the cusp of taking their first steps, such as creating a social media page or a website.

We aim to remove the fear of failure and risk to enable older entrepreneurs to realise their potential and thrive. By offering a supportive community and tailored guidance, we empower individuals to embrace entrepreneurship and embark on a journey filled with opportunities.