SOCIAL ENTREPRENEURSHIP AS A MEAN TO BOOST SILVER ECONOMY GROWTH
SOCIAL ENTREPRENEURSHIP AS A MEAN TO BOOST SILVER ECONOMY GROWTH

Author(s): Julia Perić
Subject(s): Business Economy / Management, Demography and human biology, Gerontology, Socio-Economic Research
Published by: Sveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku
Keywords: silver economy; senior entrepreneurship; social entrepreneurship; social inclusion;
Summary/Abstract: One of the major issues in today’s world is the fast-growing proportion of the population aged 60 and over. As a result of this current demographic state, a new economic system has emerged which focuses, among other things, on extending the independent and active lives of older people. This population group represents an increasing number of healthy individuals with financial resources, knowledge, experience, and sufficient time for economic and social activities. Besides, many of them strive to improve the quality of life in their communities, hence giving back a portion of what the community has invested in them. Social entrepreneurship might be a good way to tackle many issues older people face. Starting their social venture might be a good way to utilize the full potential of all resources older people have. By becoming social entrepreneurs, they could a) reduce the prejudice about the state of mind of older people, especially retired people, and b) continue to be active participants in generating sustainable economic and social development at the local and national levels. This paper introduces social entrepreneurship as a powerful means against social isolation and a way of improving their well-being (raising their self-esteem, the sense of belonging and the sense of self-efficacy). The paper will give an overview of examples of projects, organizations and social enterprises/ entrepreneurs that promote social entrepreneurship as a significant tool for enhancing the silver economy and create meaningful solutions to many challenges arising from old age.

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