The conventional perception of entrepreneurial venturing is often associated with the energy and dynamism of young people. Nevertheless, the phenomenon of senior entrepreneurship is gaining academic attention as seniors embark on entrepreneurial endeavors, defying stereotypes by demonstrating their capacity to address challenges associated with age. This paper aims to identify, assess and synthesize research findings to elucidate the determinants of opportunity recognition in senior entrepreneurship and delineate their interrelationships.
Senior entrepreneurship dynamics are examined through a systematic literature review (SLR) that leverages bibliometric methods, analyzing 108 articles from a pool of 4,135 initially identified in Scopus and Web of Science. This SLR uncovers the distinct factors that influence opportunity recognition among senior entrepreneurs within the context of the expanding silver economy.
Academic literature suggests that older entrepreneurs, aged 50 and above, utilize resources differently than their younger counterparts. This study presents a novel conceptual framework for analyzing senior entrepreneurship and opportunity recognition, examining the internal and external determinants that influence silver entrepreneurs’ participation in new venture creation. Moreover, it reveals a shift in research patterns in the senior entrepreneurship literature, offering a deeper understanding of the conceptual framework of the field.
This study advances senior entrepreneurship literature by innovatively modeling age-related factors affecting opportunity recognition into five key dimensions. It integrates the theory of planned behavior and network theory to offer a comprehensive understanding of senior entrepreneurship and its contributions to economic and social well-being. It challenges ageist assumptions and encourages further exploration of entrepreneurial dynamics.
