Abstract

Purpose: The main objective of this research is to exploratorily analyse different factors that influence the decision of the senior population (+50 years) to engage in entrepreneurship activities in a group of Latin American countries. This study considers the motivations for entrepreneurship (opportunity and necessity) and the level of development of the countries. Design/methodology/approach: The authors used data from the Global Entrepreneurship Monitor (GEM) with a sample of 22,139 observations of senior individuals in seven Latin American countries surveyed between 2013 and 2017. The authors also used the Human Development Index to capture the relevance of the level of development. The authors employed a multilevel logistic regression model to test the study hypotheses. Findings: The study results show that individual factors such as personal income, education and occupation have a significant influence on the probability of entrepreneurship of senior individuals. Related to contextual factors, the level of human development of a country has a negative influence mainly on opportunity-based entrepreneurs. Originality/value: Because of the rapidly ageing population in Latin America, understanding senior entrepreneurs and their motivations is very relevant not only in terms of theoretical development but also for policy and practical implications, primarily those related to labour markets and social protection.