Late calls for new beginnings : an integrated framework for motivations and intentions in senior entrepreneurship

Abstract

Purpose – The topic of senior entrepreneurship has recently grown in relevance, due to various factors including increased life expectancy, decreased retirement pensions and improved well-being, allowing people to remain productive for longer. Although some research has been carried out in this area, it is still a niche where various gaps remain untapped, including on the motivations and intentions of senior entrepreneurs. These are likely different from those of younger counterparts but are poorly understood. This paper aims to contribute to the literature by proposing a conceptual framework and research propositions to advance knowledge on the motivations and intentions underlying entrepreneurial activity among older adults.

Design/methodology/approach – This paper adopts a conceptual approach, developing theoretical foundations in the field of senior entrepreneurship by building on and extending transferable theory from psychology and entrepreneurship. Specifically, it draws on self-determination theory, the theory of planned behavior and the entrepreneurial event model to construct a conceptual framework and research propositions that both distinguish and link motivations and intentions. By integrating these theories, the conceptual framework provides a comprehensive and structured lens that clarifies the conceptual differences and interaction between these two key antecedents of senior entrepreneurship.

Findings – A review of the literature revealed that motivation relates to the question of “Why (do it)?”, whereas intentions concern the question of “What (to do)?” Yet, these two antecedents are often conflated in the literature. This paper identifies and clarifies their distinct roles in driving entrepreneurial activity among seniors and argues that studying them as separate but interrelated constructs contributes to a more nuanced and complete understanding of this phenomenon.

Research limitations/implications – As a conceptual paper, the proposed framework and research propositions require empirical validation.

Practical implications – This paper is of practical relevance as it provides a structured framework that helps policymakers, support organizations and practitioners identify when, why and under which conditions older adults are likely to engage in entrepreneurial activity. By explicitly distinguishing between motivational drivers, entrepreneurial intentions and trigger events, the framework enables more targeted and timely interventions tailored to later-life contexts.

Social implications – Considering that pension systems reforms and ageism in labor markets are an inadequate and inconvenient reality that senior individuals have to deal with, that senior entrepreneurship contributes to the alleviation of poverty among older individuals, and that entrepreneurship at a senior age is becoming a source not only of income but also of well-being, vitality and quality of life, this paper has important social implications.

Originality/value – This paper addresses three key gaps in the literature: motivations and intentions have largely been studied separately, providing an incomplete picture of their role in senior entrepreneurship; researchers have generally conflated motivations and intentions in senior entrepreneurship, blurring their individual impacts; and studies on motivations in senior entrepreneurship are based on simplistic theoretical underpinnings that fail to capture the complexity of this phenomenon. The conceptual framework and propositions presented in this paper contribute by incorporating motivations alongside intentions; distinguishing motivations and intentions while also recognizing their interdependence; and building on well- established theoretical foundations.