I started my business aged 62

Start-up capital?
I calculated £5,000 to start my business and was self-financing
I had not calculated for all the extras I needed and ended up spending three times
the amount.

What drove me to start a business at that age: The back story
I felt incongruent and sometimes out-of-place working for someone else.
Things became even more difficult for me because I previously ran three businesses,
one over 10 years, with a business partner. I re-entered the workplace only to earn
extra income to build the business to the next level of success.
Our relationship broke down.
I continued working with the same employers between the age of 50 and 62, and I
felt even more incongruent.
Things came to a head when an uncomfortable situation happened in which I felt
unsupported and unappreciated, I felt it was time to go, so, I retired.
I knew that working for myself was the way forward and I felt age was not a barrier.

My advice for others doing the same
Do your research on:
1. Your finances and start-up cost
2. Your industry / your competitors
3. Start at the right price point
4. Learn Sales and Marketing, and then some more!
5. Get help – a mentor, a coach

The advantages of setting up business at a later age and the challenges I have

– Know how the world works
– Extensive experience of people / different types of industry and services
– Know your capabilities
– Reconnect with your passion and people of like-mindedness

– Lack confidence to get started
– Lack the capital to get started
– Getting wrong advice
I overcame my biggest challenge:
– Self-belief in my knowledge/expertise