Professor Tom Cannon, Academic Lead of the N8 Research Partnership’s social sciences team, made a presentation at the Global Entrepreneurship Congress, which took place from 9-16 March in Liverpool.
The Global Entrepreneurship Congress featured entrepreneurs, political figures and corporate leaders who shared their valuable insight in the main conference and a series of fringe events. The line up featured the likes of Sir Richard Branson and Sir Terry Leahy, and this was the first year the prestigious event was held in the UK.
Professor Cannon explored the latest themes in entrepreneurship research. He described the economic impact of demographic change on business with particular reference to the variation within the North of England.
He also talked about the rise of ‘silver’ entrepreneurs and the impact on the economy. The change in demographics and rising number of older people seeking new challenges is set to bolster the ranks of entrepreneurs aged between 50 and 74.
Professor Cannon commented: “The economic implications of demographic change in northern functional economies presents major challenges as well as opportunities. Something that we are noticing is the rise of the ‘silverpreneur.’ There are 4 million people in the North of England aged 50-74 with an annual discretionary purchasing power (after taxes, mortgages or rents) of over £1.5bn. In order to capitalise on this valuable market sector companies must adapt to fit their needs. Older entrepreneurs from the North are uniquely well placed to capitalise on the opportunities created by this often neglected market. At the same time, they will be entering the world’s fastest growing consumer market as better health and other changes is increasing life expectancy globally.”