London Metropolitan Business School trains 40 female 'olderpreneurs'
21st May 2009
Last month 40 women celebrated completing London Met’s Enterprise on Track course, in which they set up their own micro businesses through the Centre for Micro Enterprise (CME) at London Metropolitan Business School.
To date, the CME has trained 350 women over 50 in how to start and maintain their own businesses. The success rate of the course is fantastic with 70% of course members becoming self-employed by the end of course.
Although starting a business when you are over 50 might seems daunting at first, research shows that self-employment is a very effective way for older people to earn a living. In fact, UK businesses started by over 50s are statistically more likely to succeed: after 5 years 70% of the over 50s are still in business, whilst only 28% of businesses owned by younger people will still be going.
Forward at 50 course leader, Hilary Farnworth, said: ‘The women have many reasons for choosing self employment. Some regard it as the only viable option in a work culture where they feel employers are ageist; some have a long-held passion to work for themselves and realise time is running out.’
The businesses emerging from the Forward at 50 programme are varied and innovative. They range from Fairytale Furniture, a new concept in children’s furniture, to EGAR, an award winning social enterprise which works with teenagers to combat knife crime.
Claudia Benson, who completed the course and now sells brilliantly coloured craftwork, commented: ‘The course has changed my life - my fear was replaced by excitement.’
The CME has built up a range of courses, produced a number of case studies and written research papers in conjunction with the University’s Comparative Organisation and Equality Research Centre (COERC) on issues facing these older women business owners. The CME team are currently raising funds in order to achieve more in the field, and to carry out detailed research into the destinations of the women over the last 4 years.