Author(s): Gustavo Barrera
Due to the employment difficulties of older people, entrepreneurship has become a suitable option to improve their well-being. In Latin America, the incidence of self-perception, perception of opportunities, fear of failure, and relationship with other entrepreneurs, has not been analysed in-depth among the cycle of life. This research evaluates these psychological traits on older people, and their impact on participation in the early stages of entrepreneurship and their intention to start a business. Through the data set from the GEM Adult Population Survey 2015, a logistic regression analysis is performed in 11 Latin American countries, comparing the magnitudes of regression coefficients among age cohorts. The results show that there are significant differences in adults over 54, especially in self-perception and relationships with other entrepreneurs. Findings can guide the efforts of universities, governments, and units associated with corporate social responsibility in private companies, to develop programs with a high impact on the entrepreneurship of older adults. This research contributes to recognise that the effects of psychological and social factors change throughout the life cycle, also, to understand that the perceptual and social conditions studied, have a high impact on the variance of early-stage entrepreneurship and venture intention in Latin American seniors.