Copy article

Meet the people launching businesses in their 50s and 60s

ended 17. September 2024

Recent research published by Rest Less, the digital community for the over-50s, has shown that the number of self-employed individuals aged 60 and older has surged by 33% over the past decade.

Ahead of the Startup School for Seniors launching its next GLA-funded online course on 19th September 2024, which helps individuals transform their ideas into thriving businesses, Newspage spoke to a wide selection of business owners who set up in their 50s and sixties. They include:

  • Sarah Frame, who set up an independent bookshop in 2020 when she was 60, having lost her younger son the year before.
  • Tony Redondo, who, aged 54, leveraged his extensive expertise to create a company that offers a bespoke, relationship-driven approach to currency exchange
  • Taania Wood, who, aged 53, set up a medical tattooing company to help breast cancer survivors
  • Joanna Toch, who set up Family Law Cafe in her mid-fifties and is still seeing it progress in her early sixties. It helps people with everything they need to know in family law.
  • Philip Carey, who, in his early 50s, created Striding Cities, providing self-guided visual routes across London for those looking to explore the city, exercise and discover places to eat, drink, and relax. 
  • Miles Phillips, who, in his early 50s, after 30 years in high-level corporate roles, faced redundancy. But instead of job hunting, Mike chose a different path and started his own marketing consultancy.
  • Gillian Colley, who became disabled in 2016 and had to retire from teaching in her mid-50s. She took up origami and developed a range of origami-inspired jewellery, receiving a Theo Paphitis SBS award in 2017

In many cases, more people launching businesses in their 60s is happening out of necessity because they have been made redundant and couldn't get a new job, or needed a flexible job that allowed them to care for someone — a flexibility self-employment offers.

In others, it's a way to bolster their income to help with the cost of living and higher interest rates. For others still, it's a lifestyle choice as they want to remain active and a ‘side hustle’ can help with that. A wide selection of stories are below.

18 responses from the Newspage community

Copy all

Star Quote
Copy

Editor
Tony Redondo
Founder at Cosmos Currency Exchange
I founded Cosmos Currency Exchange in 2020 after a 35-year career in financial services. At 54, I leveraged my extensive expertise to create a company that offers a bespoke, relationship-driven approach to currency exchange, contrasting sharply with the impersonal, transactional models common in the industry. My decision clearly reflects a broader trend, with Rest Less research showing a 33% increase in self-employment among those aged 60 and older over the past decade. Cosmos's growth, driven entirely by referrals, highlights the success of its personalized service. The company has won eight industry awards, including 'Best Pro-Active Currency Exchange Service 2024' from the Global Business Awards, underscoring the impact of Tony's client-centric vision. For myself and others like me, starting a business later in life is about embracing new challenges and applying a lifetime of experience in innovative ways.
Copy

Suzanne Noble
Co-Director at Startup School for Seniors
We currently have over 200 people registered for our next Startup School for Seniors cohort starting 19th September, keen to turn an idea into a business. Unusually, 90% of them are comprised of women, many with caring responsibilities. We find that the type of businesses people of this age start are varied - from turning a hobby such as sewing, painting or baking, into a revenue stream to those who want to consult based on their previous work experience. This is no typical 'entrepreneur' for this age group although most are unified in wanting to do something that provides them with fulfillment rather than simply a job.
Star Quote
Copy

Sarah Frame
Owner at The BookNook Stewarton
I opened my independent bookshop, The Book Nook Stewarton, in December 2020 when I was 60. I had a corporate background but no experience of bookselllng or any retail. I had lost my younger son in July 2019 and had to make changes in my life to accommodate living with my grief. I had always been passionate about books and enjoy meeting and talking to people, so I decided to fulfil my lifelong dream of opening a bookshop. It went well and in October 2022, I relocated to much bigger premises, with space for a dedicated children's section, a coffee area and to accommodate all my book clubs, children's clubs and frequent author events. The bookshop is thriving and is seen as a strong asset to our local community, whilst also attracting customers from a wider area. The Book Nook has built a good reputation for hosting many well-known authors at our events. In 2024, The Book Nook Stewarton won the title of Best Independent Bookshop in Scotland in the prestigious British Book Awards.
Star Quote
Copy

Taania Wood
Owner at Taania Wood Micropigmentation
For years, I dreamed of using my art to help breast cancer survivors with medical tattooing. Struggling with the effects of M.E./Chronic Fatigue Syndrome, triggered by a stressful corporate job, I knew I needed a change, and at 53, I seized the chance to start my new career. Balancing full-time work with training was tough, and there were moments of doubt, but my self-belief drove me through nearly two years of training. In 2020, amidst the pandemic, I left my secure job to focus on my new venture. Not the best timing, but being in control of my work-life balance feels incredibly liberating and empowering. Industry recognition as a finalist and runner-up for Medical Artist of the Year two years running has been a significant confidence boost. Yet, the true reward and validation of my new career choice comes from seeing the joy on my patients' faces when they first look at their new nipples. Turns out, you can teach an old dog new tricks.
Star Quote
Copy

Joanna Toch
CEO at Family Law Cafe
I set up Family Law Cafe in my mid-fifties and I am enjoying seeing it progress in my early sixties. I felt this was the perfect time for me to launch legal services online and help people with everything they need in family law. I know the law backwards, sideways and every way and can try new things without the worry that I have dependants and I am going to mess up their lives as my children are grown up and making their own way. I love working with young people and with their energy and my knowledge we are formidable. For me, this age is the peak time to do something new for the world and for myself.
Star Quote
Copy

Miles Phillips
Founder at Miles Marketing
In my early 50s, after 30 years in high-level corporate roles, I faced redundancy. But instead of job hunting, I chose a different path and started my own marketing consultancy. I knew I needed to work for at least another decade, but I wanted control over my time and earnings. Self-employment has been tougher than I expected, but the rewards are immense. There’s nothing like the satisfaction of getting paid for something you’ve built yourself or having Friday off, because you can.
The best part is that you are your own boss. I had a client recently who was driving me crazy, and I had to say, "You are not the boss of me! I think it’s best we part ways!" It felt so empowering and liberating to be in control of my own destiny. Now, I set my schedule, work with clients I choose, and pursue projects that genuinely interest me. The freedom to balance work and life on my own terms is invaluable.
Star Quote
Copy

Philip Carey
Ideas Adventurer at Striding Cities
At Striding Cities, I created self-guided visual routes across London for those looking to explore the city, exercise and discover places to eat, drink, and relax. The idea emerged in my early 50s after being made redundant from a major IT corporation. Realizing my previous skills held little value outside that industry, I sought to develop new, visually creative skills rooted in London. My goal was to help people quickly and actively get to know the city in a visually engaging way. Over 10 years, I curated content in my spare time while working full-time, eventually retiring last year to focus on turning this passion into a business. This journey has been transformative, teaching me about business and myself while connecting me with supportive people. Inspired by Churchill's optimism, I view any setbacks as delayed success and am fully committed to this venture.
Star Quote
Copy

Richard Squire
Founder & CEO at MyFinanceFuture
My co-founder James and I set up MyFinanceFuture in our mid-50s after each reaching a breakpoint in our 30-year professional careers. My role ended after my company was acquired, and I felt I needed a change of direction and flexibility to spend time with my 3 children, who were in their early teens. James and I had similar views on the challenges facing those in our age group thinking about the next stage of life, and similar ideas for a business that could help. A few years on, we’ve established MyFinanceFuture, providing online planning tools for people who want to create their own financial plans. I’m happy with the decision for lots of reasons. I’m constantly learning, which keeps things interesting. It’s allowed me to go back to doing the practical things I enjoyed at the start of my career – such as computer programming - and bring them up to date. And I’ve had more time to spend time with and support my kids, which has given the balance of life I was looking for.
Star Quote
Copy

Jill Poet
CEO at Organisation for Responsible Businesses
I'm Jill Poet, CEO and co-founder of the Organisation for Responsible Businesses (ORB) which my husband Mike Wilson and I launched in 2010. He was 60. I was 59. At the time, CSR (Corporate Social Responsibility) was a big topic, but everything related to the big corporates. I have a background of working with sole proprietors, micro and small businesses and felt that caring about people & environment was equally important to a sector that accounted for 99% of private businesses. We developed and launched ORB as a membership organisation driving a better way of doing business to fill that gap. In 2011, in conjunction with Anglia Ruskin University, we developed the Responsible Business Standard, a robust, evidenced-based ESG certification designed for small businesses. In 2022, we transferred ORB to a new not-for-profit company and simulataneously gifted it to the membership. Mike has retired but I'm still CEO and driving the business forward at the age of 74. Age is just a number!
Copy

Platinum
Ross Lacey
Director & Independent Financial Adviser at Fairview Financial Management
We've seen several cases where clients of ours have left employment to set up their own businesses. There are a couple of common reasons:

Redundancy often gives people a chance to re-assess their lives and what's truly important to them. If the numbers make sense then it can mean there's an opportunity for them to do something different, like explore a business opportunity they've always wanted to do, that's not so much driven by the money, but more by their passion for it.

Some people also get to a certain age where they don't want or need the full-on working life associated with their current employment. They decide to take a step back and move into a consultancy type role, choosing projects to work on, their own hours and spending more time doing the things they love outside of that. Naturally, many do this on a self-employed basis which can have several tax advantages too.
Copy

Graham Rogers
Franchisor at OvenGleamers
OvenGleamers is a premium oven cleaning company I started 20 years ago when in my 40s. For the past 14 years this successful business model had been franchised. More recently, franchisees starting their own business under the OvenGleamers brand have been in their 50s and 60s, which are now the new 40s. These franchisees are chosing to escape their past corporate work lives of long hours and major stress and start a business where they can control their work/life balance and reduce stress. The OvenGleamers franchise offers the opportunity to build their own business with a faster track to market by following a proven business model. Franchisees starting in their 50s and 60s are more driven and have the maturity to follow a systemised business plan to create a lifestyle that will take them up to retirement.
Copy

Rob Cossins
Co-founder & CEO at Scribe
There's a clear trend away from young people building risky businesses, towards seasoned professionals building companies in their areas of expertise. They're using experience to their advantage and striking out on their own.
Copy

Julie Anne Macken
Deputy Queen Bee at Neve's Bees
It was whilst running a workshop for McCain Chips in Sao Paulo that it struck me. Instead of teaching South American Marketers to create ads convincing mothers to buy processed food there must surely be better ways to use my skills and expertise. Originally a chemist and laterly a beekeeper, I'd long been obsessed about the plethora of horrible (& mostly unnecessary) ingredients in skincare an had made my own for years using our beeswax with traditional recipes I found online. I'd procrastinated for a long time but now was the time to 'put my money where my mouth was'.I enrolled in a course in herbal medicine & traditional apothecary to learn more about making plant based balms & salves and the path became clear. Fast forward 8 years, we now make a range of Soil Association Certified Organic & Natural, award-winning skincare to my unique formulations, with none of the additives in all water-based creams & lotions. I've never looked back and now do something that feels truly meaningful.
Copy

Denise Yeats
Director at Denise Yeats: Coach, Personal Trainer, Event Producer
Until March 2020, I had a successful events company with charity clients like WWF and Parkinson’s UK. When Covid hit and events were cancelled, I found myself without financial assistance due to my company’s limited status. To survive financially, I drew on my savings, and to stay mentally strong, I continued my triathlon training. The loss of my events business and the menopause led me to re-evaluate my work, and myself. A friend asked me to train her for a cycling event and this inspired me to retrain as an Ironman coach and PT in 2021, then aged 53, and I now specialise in training women like myself, going through menopause. I also deliver company talks so that I can educate and empower more women. The pandemic was tough, but it brought a new focus – to help to shine a light on us over 50’s that this is not the end, it can be just the beginning! Today I have also been selected as one of the nation’s 100 most impressive small firms by the Small Business Saturday UK campaign.
Copy

Evelyn Diamond
Managing Director at Evelyn Diamond
FROM: Evelyn Diamond - 07929 633108

It was a cold winter’s night in November 2004 when Essentially Medical’s first meeting took place and two Consultants spoke a group of GPs and nurses at a Golders Green surgery in North London

The company was the brainchild of Evelyn Diamond, who worked in healthcare marketing.

Her vision was to provide free educational sessions for GPs, their nurses and other healthcare professionals delivered by local Consultants on a date and at a time convenient for the Surgery.

Evelyn said “Many of the NHS Hospital Consultants I worked with expressed their concerns that local GPs just didn’t know who they were” and she set about changing that.

Essentially Medical is a ‘medical matchmaker’ between Primary Care (GPs) and Secondary Care (Hospital Consultants) and over years has arranged more than 6000 free meetings, which are now virtual.

The company continues to grow and provides a much needed service to the NHS. www.essentiallymedica.co.uk
Copy

Gillian Colley
Designer at Paper2Pearls
In 2016 I became disabled and ultimately had to accept early retirement from teaching in my mid 50s. This was a very difficult time and as a creative person I needed to find a new outlet for this and also find ways to keep my brain active. I took up origami and this led me to develop my range of origami inspired jewellery and I was awarded a Theo Paphitis SBS award in 2017. Since then I have developed my brand as a sustainable one, repurposing paper from old books and in 2024 I was the finalist in the Blue Patch sustainability awards in the Heritage Section. My business though small aims to promote sustainability through my products and also through actions such as planting a tree for every purchase. As someone with a disability that includes chronic pain and fatigue there is a limit to how large my business can grow as my jewellery is time consuming to make but as well as topping up my pension it supports my mental health and keeps me learning.
Copy

Amelia Brooke
Career Coach & Certified CV Writer at Amelia Brooke Career Vision
Entering your 50s and 60s can be a great time to start a new chapter in your career. I've helped many clients discover exciting new opportunities and use decades of expertise to launch successful businesses.

Many people in their 50s and 60s aren't ready to retire. Starting their own business is a chance for people to do what they really love. Others see it as a way to gain independence or flexibility.

All career transitions require strategic planning and market research, and starting a business is no different. Fortunately, my clients often have backgrounds that make this process smoother. As their coach, I guide them through the process, helping them identify opportunities and explore the reality of self-employment.

A few examples include a former Head of Risk who opened a kennel business. Another client, a former charity director, established an advisory service for new trustees. And a naval engineer launched a consultancy focused on developing next-generation submarines.
Copy

Tim Wakelin
Founder at Guarantor Insure
In my late forties I was very pleased that my eldest son decided to go to university, In his second year at university I was less pleased to be asked to be his gaurantor for a stduent tenancy with his five new friends. I was fully aware that the wording of the contract made me fully liable for all of the tenants obligations not just my sons.I was relucant to sign and explained why to my son, I didnt want to gaurantee £2k per month, he said if you are worried about it why not insure yourself. I couldn't, the cover didnt exist, I set out to create an insurance policy to provide this cover to to other parents and in 2020 at the age of 52 after 5 years I launched my business Guarantor Insure, then the pandemic hit. I had stopped my other work to focus on this business, I had no income, had to sell our home, convince my wife I was not insane and keep moving forward. Today the business is growing our customers love what we do and we are planing new products with our insurer.