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Madagascar appears as the global olderpreneurial capital

Olderpreneurs in Madagascar are challenging the notion that twenties dominate the world of entrepreneurship. (Image source: Vitasary/Flickr)

Madagascar has the highest percentage of ‘olderpreneurs’ (entrepreneurs over the age of 50) compared to the rest of the world, according to analysis from Allstar Business Solutions, the UK-based leading provider of fuel cards

The research presents in an interactive heat map, looks at the prevalence of olderpreneurs in the latest Global Entrepreneurial Index, highlights the level of total early-stage entrepreneurial activity (TEA) around the world from those in the 55-64 age bracket.

TEA is the main indicator used to assess the percentage of the working-age population both about to start an entrepreneurial activity and that have started one in the last three and a half years.

Madagascar was found to have the highest proportion of olderpreneurs in the world, with 39 per cent of the 55+ population accounted for in the TEA index. Bosnia and Herzegovina was at the bottom of the leader board with only 1.5 per cent.

Slovakia was the highest ranking European economy, placed ninth in the world with 13.1 per cent, while Estonia (8.7 per cent) and Ireland (7.7 per cent) followed in the European rankings.

The UK was in position 34 with a five per cent score and across the Atlantic the USA ranked in position 23 of 54 economies indexed with a score of 7.4 per cent.

The top five economies with the highest level of olderpreneurial activity were

– Madagascar (39 per cent)

– Ecuador (23 per cent)

– Chile (17.1 per cent)

– Peru (16.7 per cent)

– Lebanon (16.1 per cent)

Anthony Trigo, head of digital, at FLEETCOR – Allstar’s parent company – said, “Nearing retirement often means having more disposable time and income and less pressure to support offspring, which means there’s a lower start-up risk compared to earlier in life. That’s what makes it so tempting for people to go at it on their own.”

A year-on-year comparison to the 2015-16 index shows that Lebanon had almost a 10 per cent reduction in TEA in the last two years, down from 25.6 per cent to 16.1 per cent in 2017, whilst Ecuador – ranked second in 2017 – only reduced slightly from 25.8 per cent to 23 per cent.

The research presented in an interactive heat map looks at the prevalence of olderpreneurs around the world: www.allstarcard.co.uk/olderpreneurs-capital-of-the-world

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