helping the over 50s find their way into business © copyright Prime 2009 prime PRIME Peter Bennie Director of Operations Heather Radley Regional Manager – North West

helping the over 50s find their way into business © copyright Prime 2009 AGENDA Introduction and background to PRIME Presentation on –demographic change –50+ worklessness –50+ Enterprise agenda Heather: PRIME's work in the North West Yvonne Sampson: 50+ Enterprise/PRIME Ann Carter-Gray: BERR on the 50+ Enterprise agenda Round table discussion prime

helping the over 50s find their way into business © copyright Prime 2009 prime PRIME Established in 1999 as an Initiative of HRH The Prince of Wales

helping the over 50s find their way into business © copyright Prime 2009 prime PRIME The only national organisation dedicated to promoting 50+ self-employment and enterprise Mission To ensure everyone aged 50+ has the opportunity for financial, social and personal fulfilment through sustainable self-employment, business or social enterprise

helping the over 50s find their way into business © copyright Prime 2009 Background PRIME has working knowledge of the 50+ market over the last 10 years PRIME works with a national network of Partners around the UK PRIME delivers 50+ Enterprise Awareness, Specialist and Intensive Support PRIME conducts research and develops strategies for the over 50s PRIME works with Government at National and Regional level prime

helping the over 50s find their way into business © copyright Prime 2009 Partners Enterprise Agencies (NFEA) Education JobCentre Plus, Careers Guidance Business Links Employability/Enterprise projects HMRC prime

helping the over 50s find their way into business © copyright Prime 2009 Corporate Partners Microsoft – Black Country Bank of America –Training –Pre-start Mentoring prime

helping the over 50s find their way into business © copyright Prime 2009 prime PRIME’s Clients Most able, knowing, skilled and confident Those who need signposting The hard to reach and engage

helping the over 50s find their way into business © copyright Prime 2009 Initiatives Deprived urban areas –LEGI –Belfast –South Tyneside –South London Business Link partnerships –S East Gateways –Yorkshire & Humber –Devon & Cornwall Rural –East Mids –Cheshire prime

helping the over 50s find their way into business © copyright Prime 2009 Initiatives Sector based –Franchising, Food & Drink –Creative Industries Pre-start Mentoring –South Yorkshire, Belfast –Black Country, East of England Employment Programmes –N East Derbyshire JCP ESF, FND –IB Health Sector Pilot, Redundancy programmes Under-represented Groups –Womens’ Enterprise (S East, S West, Cheshire) –BME (E Mids, Yorks & Humber) prime

helping the over 50s find their way into business © copyright Prime 2009 prime The Demographic Challenge Well-being in later life National report July 2008 It is a fact that England is getting older, with over-50s projected to make up a third of the population by However, the impact of this demographic change will be different depending on where in the country you live. For example, coastal and rural areas already have a high proportion of older people and this is likely to increase over time, whereas cities are traditionally home to a younger population.

helping the over 50s find their way into business © copyright Prime 2009 prime The Demographic Challenge Sub-National Population Projections – 2006 to 2031 UK population rises from million to 71.10m, a rise of 10.4m (17.4%) UK’s pension age population, at current SPA rises from 11.34m to 17.96m, – a rise of 6.6m (58%) Increases in SPA from 2010 limit this rise to 14.93m (31.6%) Extra 3.03m people drawn into workforce 50-SPA workforce grows from 9.2m to 13.0m – 3.8m 41.3%

helping the over 50s find their way into business © copyright Prime 2009 prime The Demographic Challenge Source: ONS, SNPP, June 2008

helping the over 50s find their way into business © copyright Prime 2009 prime The Demographic Challenge 292 (82%) of the 354 Local Authorities in England project an increase in Old Age Dependency Ratio 71% of these experience increase of 5% or more, highest 29% This is after changes to SPA Impact on the cost of delivering healthcare and social services, on housing, transport and pensions is huge Further challenge of decreasing working-age population ratio

helping the over 50s find their way into business © copyright Prime 2009 prime The Demographic Challenge Source: ONS, SNPP, June 2008

helping the over 50s find their way into business © copyright Prime 2009 prime The Demographic Challenge Source: ONS, SNPP, June 2008 The percentage of the working age population that is aged 50 to SPA increases from 1 in 4 to appr 1 in 3 Peak in % of the working age population.

helping the over 50s find their way into business © copyright Prime 2009 prime The Demographic Challenge Source: ©Nigel Campbell, “Decline of Employment Among Older People in Britain”, Centre for Analysis of Social Exclusion, 1999

helping the over 50s find their way into business © copyright Prime 2009 prime The Demographic Challenge Source: ONS, Census for England, 2001

helping the over 50s find their way into business © copyright Prime 2009 prime The Demographic Challenge Source: ‘FOCUS ON OLDER PEOPLE’, ONS 2005 Economic activity rate: by age and sex, spring 2004

helping the over 50s find their way into business © copyright Prime 2009 prime 50+ Worklessness Rate for all people aged 50 to SPA – 28.6% (2.62m people) Rate for under 50s - 20% Impacted harder in recent unemployment figures – 31% increase against 22% for under 50s More likely to become long-term claimants Less chance (10%) of regaining employment If rates of worklessness for those aged 50 to SPA are not reduced, the cost to the UK will rise from £61.9bn in 2009 to £86.2bn per annum in 2031

helping the over 50s find their way into business © copyright Prime 2009 prime The Self-Employment Solution

helping the over 50s find their way into business © copyright Prime 2009 prime The Self-Employment Solution Source: ONS, Census for England, 2001

helping the over 50s find their way into business © copyright Prime 2009 prime The Self-Employment Solution Source: ONS, Census for England, 2001

helping the over 50s find their way into business © copyright Prime 2009 Self-Employment can offer the individual: Control Flexibility Financial Independence Self-Fulfilment Realisation of an ambition prime The Self-Employment Solution

helping the over 50s find their way into business © copyright Prime 2009 Held back by Health conditions Care responsibilities Conditioning/institutionalisation Lack of enterprise awareness Reluctance to engage with youth-centric initiatives prime The Self-Employment Solution

helping the over 50s find their way into business © copyright Prime 2009 Realise potential of Skills and experience Capacity to continue to be economically active longer and later in life Rapidly increasing part of the workforce Lost GDP prime Solutions?

helping the over 50s find their way into business © copyright Prime 2009 Heather Radley, PRIME –PRIME's work in the North West Yvonne Sampson, NWDA –50+ Enterprise/PRIME Ann Carter-Gray, BERR –50+ Enterprise agenda Round table discussion Way forward prime