ONCE AN ENTREPRENEUR – ALWAYS AN ENTREPRENEUR? POST-EXIT INTERESTS OF RETIRED ENTREPRENEURS
ONCE AN ENTREPRENEUR – ALWAYS AN ENTREPRENEUR? POST-EXIT INTERESTS OF RETIRED ENTREPRENEURS

Author(s): Mirela Alpeza
Subject(s): Business Economy / Management, Psychology of Self, Behaviorism, Gerontology, Socio-Economic Research
Published by: Sveučilište Josipa Jurja Strossmayera u Osijeku, Ekonomski fakultet u Osijeku
Keywords: retired entrepreneurs; exit strategy; psychological barriers; business transfer; mentorship;
Summary/Abstract: In recent decades, the elderly have an increasing share in the population’s age structure, and the implications of population aging are visible in all aspects of society. A higher proportion of the elderly population is accompanied by an increase in the number of people who spend a more extended period of their lives as retirees, which affects the social redefinition of the concept of retirement. Retirement of entrepreneurs is an essential topic since entrepreneurial retirement reflects its sustainability, which has a broader social role. The biggest challenges related to the retirement of entrepreneurs are those of psychological nature whose causes are found in their almost exclusive focus on the business aspect of life and the lack of development of other interests and contacts outside the business community during the active working period. After retirement, entrepreneurs strive for activities that enable retention of existing patterns of behavior and continuity in developing relationships within the same social groups. The paper presents an example of an association of retired entrepreneurs in the Netherlands, which accomplishes two important goals through its mentoring program, i.e., it enables social inclusion of retired entrepreneurs and enables younger entrepreneurs to successfully overcome business challenges with the mentoring support of retired entrepreneurs. Modeled on the example of good practice from the Netherlands, in early 2020, an association of retired entrepreneurs was launched in Croatia. The topic of the retirement of entrepreneurs and sustainability of their business ventures is crucial to Croatia because of the enormous wave of expected retiree entrepreneurs who founded companies in the 1990s after Croatia transitioned to a market economy. This paper presents qualitative research conducted among retired entrepreneurs in Croatia interested in volunteering as mentors to younger entrepreneurs. The concluding part of the paper points out the need to support the development of programs that enable social inclusion of retired entrepreneurs, applying their knowledge and experience in encouraging the development of entrepreneurship.

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