Becoming an entrepreneur later in life

News 4 February, 2018
  • The Journal

    Sunday, February 4, 2018 01:00

    Sunday, February 4, 2018 01:00

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    Sign of the times, 50 years and older have delayed retirement. By choice, by challenge or by financial obligation, they are even more likely to change careers in the fifties and in the sixties. In our record, The Journal includes stories that describe this new reality.

    • Read also: A second life after 50 years

    Five tips to cultivate his sense of entrepreneurial… to 50 years old

    An entrepreneurial spirit and late

    More and more in their fifties are discovering an entrepreneurial streak, ” says Michel Fortin, director general of the Centre of excellence for entrepreneurship of Montreal, a government agency overseen by Emploi-Québec. According to him, 10.4% of its customer base of 2000 people aged over 55 years. They were 6.3% in 2003.

    “They want to turn into business opportunities that they have acquired in their career, or even changing activities, or acquire a company,” says Mr. Fortin.

    Different needs

    There is no funding program designed specifically for age 50 and over, whether it is a loan or a grant. “However, their needs are different from those of younger people,” says Michel Fortin. Most of them already have a network, a little bit of money, but they need to acquire entrepreneurial skills. “By contrast, the centres of excellence, such as the local development centres (CLD) or the self-employment assistance program (STA) Emploi-Québec (which provides financial assistance during the first year of activity) resources available at start-up, technical support, financial assistance, or research mentors.

    Be patient and develop his network

    Whatever their motivations, in their fifties and the customers sometimes forget that business start-up will be long and complex. “It is always more expensive and take longer than anticipated. We devote time and energy, and it may be without salary for six months. And while developing its product and its customer base, it is necessary to continue to take care of its network, to attend the activities of chambers of commerce, organisations of entrepreneurs, self-employed workers. It is not necessary to isolate himself in his basement, ” says Michel Fortin.

    Acquire a business ?

    Since there was not 40 years ahead, some experts suggest to over 50 years of age to acquire a business already established. But be careful, it is not simple either. Buy a business, it can be as long as starting one. Property transfers are complex processes. That said, the record of credit of more than 50 years, usually more fleshed out, makes them easier to work with financial institutions.


    You should not hesitate to seek mentoring, even at the age of 65. “This is not just for the young ! It is not necessary to be afraid to talk with experienced entrepreneurs, ” says Michel Fortin.


    Cars in olive oil

    Photo courtesy

    What is the relationship between a car and the olive oil ? Probably none, except that both are products, and a guy from marketing as Danny Burns will sell you one as the other.

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    A school director launched his coffee

    Photo special collaboration, David Riendeau

    Martine Desbiens has quit her job as the director of a school to run a café in Sainte-Julie.

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    Six tips for a smooth transition

    Reinvention is never easy, but over the age of fifty passes, the less is our capacity to adapt.

    “But if it is not too mortgaged by a work which has been difficult on the physical plane, a lot of choice on offer to us “, said Ghislaine Labelle, psychologist, speaker and writer.

    It is mainly the time to ask the question : what is it that I want to do ? How do I update ? What are my skills ? And which of those are transferable ?

    Here are the tips that Ghislaine Labelle gives customers who come to meet when they are called into question, in search of jobs, or simply curious about their options.

    1. Don’t panic

    It is estimated that most workers will make three career changes in their life. And if there is a time for reflection between each of these changes, it is better. Between one and three months, when it is possible.

    2. Do not stay alone

    Find groups to share your experiences. Because you can have periods of discouragement, in particular when the phone is not ringing… or that e-mails remain unanswered.

    3. Connect with its values

    What do we want to do 10 or 15 years ? Try to discover your core values, and your needs.

    4. Remain lucid

    Avoid creating expectations that are impossible. It is well, positive beliefs, but some books of motivation are not very realistic. This is not just with the thought that we will win the dream job. It is necessary to remain realistic about his skills and don’t dream in color.

    5. Update her skills

    In-service training courses are many, enjoy. Attend seminars, conferences, workshops.

    6. Choose

    In what sector does it work ? With who ? Do you want a job full time or part time ? Some decide to leave the train infernal pressure. In the fifties, it’s now or never to choose the solution that fits.


    Finally his own firm

    Photo Agence QMI, Dario Ayala

    The return to school went without a problem, but the job search, what a pain!

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    Researcher of precious stones

    Photo courtesy Martine Lavoie

    Martine Lavoie has had a crush for the precious stones when she visited Rajasthan, India, with his two daughters.

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