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Paintbrush or Pension

More than 25 per cent of new businesses in the UK are being started by people who have recently retired or been made redundant, according to a new study.

The report by Clydesdale and Yorkshire Banks found that industries where people can work alone or in small teams, such as painting and decorating, are the most popular types of start-ups for this demographic.

The research showed that over one million so-called "olderpreneurs" in Britain have already taken the plunge to realise a lifelong dream.

He concluded: "As a society, we are living longer and understand that age and experience bring much more. So it should be no surprise to see people wanting to put their experience to good use, rather just seeing retirement as a time to switch off."

For more information, go to: www.cbonline.co.uk.

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