Business | Entrepreneurial and Small Business Operations
Europe’s population is getting older; dependency ratios are set to double by 2060 and almost a fifth of the total population living in Europe are aged over 65. Such transformations and demographic change pose major challenges and potential benefits for the economy. Addressing the call in the literature for further research into the supply side of the silver economy, this research contributes to our understanding of firms’ awareness of this growing market and its economic potential. This research employs primary qualitative and quantitative data from eight regions in Europe to study how aware businesses are of the silver economy. In so doing, the findings from the content analysis can inform policy in supporting businesses produce and sell goods and services specific to the needs and demands of older people. While we find some firms are aware of the silver economy, many have a social/ caring view and others a more economic view. The awareness of the potential for firms to benefit from the silver economy is weak and is supported by our finding that there is a lack of awareness of training or other public supports for businesses at a regional level.
McGuirk, H. ConwayLenihan, A. and Lenihan, N (2020) Firms’ Awareness and Opportunities of an Ageing Population, presented at RENT XXXIV ‘Entrepreneurship in the Digital Era’ November 2020 (online) Conference Paper.