Factors influencing senior entrepreneurship in Chile. A GEM perspective

Abstract

The objective of this research is to identify the internal factors that contribute to senior entrepreneurship (+55 years) in Chile and compare them with a selected group of countries in Latin America. To achieve the aforementioned objective, an analysis is conducted based on the Adult Population Survey (APS) from the Global Entrepreneurship Monitor (GEM) of 2016. A logistic regression model is employed, applying different variables to Total Early-stage Entrepreneurial Activity (TEA). The research reveals that occupation, education level, age, knowledge of other entrepreneurs, and the entrepreneur's confidence in their own abilities are fundamental variables in explaining the TEA of older individuals. This study does not consider the external perspective, reflecting how the environment influences entrepreneurial intentions. Based on the results of this research, governments can better understand the factors to consider when shaping policies to support entrepreneurial activity in this demographic. Additionally, this work contributes to the development of knowledge about entrepreneurial activity among older individuals in the country and the identification of best practices that can be utilized in other countries.