BBC 2 show on those too young to retire
Listen to this item
UPDATE: Extra
Interviews with Sir Alan Sugar, Professor Colin Gray and Laurie South of PRIME.
On Friday the 8th of February 2008 at 7pm BBC 2 is showing “Too Young to Retire” - a special edition of The Money Programme about people who are building successful businesses in their 60s and 70s.
One of the older entrepreneurs featured is chartered accountant Dick Pyle, who set up a truffle farm in France using an innovative adopt-a-truffle-tree business model. Customers pay £149 per tree - and then get all the produce from it. You can also visit your tree, or give trees as presents. He was just coming up to 60 and about to retire when he came up with this scheme.
Presenter Valerie Singleton also talks to sisters Penny Walker and Annabel Rhodes, who set up their own natural cosmetics business Rhodes to Heaven in their sixties. They are shown taking their products to the next stage, selling them into an upmarket High Street chain.
From the BBC press release:
Former Money Programme presenter Valerie Singleton sets out on a journey around Britain to meet some of the oldest entrepreneurs in Britain. She examines if age is a hindrance or help to a new business career and hears the experiences of those men and women who have decided it’s never too late to start.
Statistics show that those who are over fifty and find themselves out of work have only a one in ten chance of being re-employed. So the option of starting up on your own is very attractive and may even be essential.
Valerie Singleton meets a variety of entrepreneurs who are finding success in new fields. There are the sisters in their sixties who started a range of organic beauty products and are working to get high street distribution for them. Then there is the illustrator who has built up a highly successful online greeting card business. There is also the sky-diving septuagenarian who has set up a children’s charity. Finally she meets a retired PR executive who is now trading in truffles.
She also seeks the advice of the UK’s oldest employee and employer - who are both still going strong despite being over one hundred years old.
With expert input on what it takes to be a successful entrepreneur from “The Apprentice” star Sir Alan Sugar, and Peter Jones from Dragons’ Den the programme examines just what are the advantages and disadvantages in being an older entrepreneur.
Print this item
February 7th, 2008 at 9:28 pm
Wonderful article. Many thanks! But PR executive? It’s about the only thing I’ve never done in my life. I’m a Chartered Accountant by profession and a mathematician academically. I have set up businesses in travel, electronics, herbaceous plants, water purification, management consultancy, restaurants and financial services. I am currently involved in retailing wine, stockmarket research and platinum/palladium mining as well as Truffle Tree. But PR? Never!
February 8th, 2008 at 4:12 pm
Oops! The PR slur is in the BBC press release, so the person who wrote it will consider PR a noble calling. I’ll alter our text above to say “Chartered Accountant”.
Looking forward to seeing the programme tonight.
February 8th, 2008 at 5:52 pm
Just heard the interview with Valerie Singleton on the Steve Wright show on BBC Radio 2. I am looking forward to seeing the show tonight!
We need to recognise that older people (and other groups in society that might be seen as a ‘problem’) are an asset that need to be appreciated and promoted.
I am employed by Time Banks UK to promote the benefits of time banking to older people in England. One of our core values is that people are assets and every individual has valuable experience, skills and connections to contribute to the wellbeing of others in their local community. If you want to learn more visit our website http://www.timebanks.co.uk
Many thanks!
February 8th, 2008 at 6:49 pm
Just in case anyone is wondering, Time Banks is a UK charity. It promotes an interesting kind of volunteering. The late Anita Roddick was a keen supporter.
February 22nd, 2008 at 4:38 pm
Have you noticed even olderpreneurs are looking younger these days!
My partner Bee is nominated for Vale Business Woman of the Year award this year and last year was voted ‘National Hypnotic Voice of the Year’. In the last few months she has set up a great new web site - http://www.50pluslifedesign.com to promote Health Wealth and happiness in the over 50’s.
A few months ago she was contacted by a film company for a programme about older people setting up in business late in life. When they discovered she was ‘only’ 60 they said ‘You are a great example Miss Milbourn but sorry you are much too young for us!’
Wonderful time for us Boomers - Examples abound - The second half of life can be an unrivaled a time of adventure - possibility - experience - knowing - confidence and enjoyment.
March 7th, 2008 at 1:11 pm
Age discrimination, jobs for the 50+ and the PRIME iniative.
Having recently attended a PRIME event, I am disturbed that no advice is given concerning the RISK or FUNDING Options available for setting up a business or going self employed. This iniative seems to be a good idea BUT is being used by job centres to SHIFT the over 50-s somewhere else.(almost admitting this sector is unemployable)
Starting a business at any age is difficult, at 50+ it is even more challenging! Any advice on this issue should carry a “Government Wealth Warning”. The current government are only just getting to grips with the facts and realities of over 20 years of ageist discrimination across the workplace. Probabley because of this out of balance displacement of a large skilled and experienced sector of workers, who will probably never get the opportunity of a “proper” job again, the over 50s are being enticed and cajoled into going self empoyed: there is advice but little effective support or funding. AND certainly no safety net. There is no room or time to make mistakes at 50+, caution rules.
Exciting times for some if they have the funds to create a sustainable business even if it is just for the fun of it! However for those over 50 that need to WORK to survive this type of self employment iniative can be no solution with out financial support.
The PRIME iniative must become more responsive and realistic in developing opportunities for this “experienced” sector of a wasted workforce.
March 13th, 2008 at 8:24 pm
You’re right that there is a risk in working for yourself. Self-employment is something for people to consider, but it’s not without risk and certainly not for everybody.
Of the people who contact PRIME, we think that after 12 to 18 months just over 40 per cent have gone ahead, 30 per cent are still thinking about it, 10 per cent have got a regular job - and 20 per cent have given up.
This is based on telephone interviews.
We are also trying to find out how many people start and then go out of business. This is quite tricky, but the study some visitors to this site may already have contributed to that Kingston Business School is conducting for PRIME is addressing the issue.
Re funding, there isn’t much available. What we know about the issue is on this site (under finance). The UK government does not finance people to start new businesses - or only in exceptional circumstances. Thinking is changing - as in made clear in the latest enterprise white paper. But any funding that is likely to be forthcoming will only be a small contribution - there will still always be risk.
April 14th, 2008 at 3:55 am
Having researched and written about people in their ‘retirement’ establishing and starting small businesses, home based businesses and profitable hobbies, (the book is ‘Retire Bizzi’…101 case studies), I can say that one of the main things that showed up in these people was their passion. Age was not relevant, but their enthusiasm, focus and experience was vital to their success. They did not do silly things and ‘dive in, spending huge amounts of money. They carefully researched and are having the time of their lives.