Optimal timing of entrepreneur’s exit from business (OPTIMAL)
Based on the existing retirement research, we will develop an application, which allows the ageing entrepreneur in micro and small-sized enterprises to assess the optimal timing of their exit from their business. The aim is to provide a model, application and information to increase retirement awareness and optimize entrepreneur retirement outcomes, secure employment in the companies of ageing entrepreneurs, make entrepreneurship a more attractive employment alternative, and help secure the transfer of business in these companies. The key measures in utilizing previous research results include (1) identifying entrepreneur retirement paths, (2) developing a model and application for optimizing entrepreneur retirement, and (3) piloting the model and application in a number of Finnish micro and small sized companies. This will help entrepreneurs optimize their retirement, secure employment of the company employees during business transfer, and inform decision makers.
Academy Research Fellow Monika von Bonsdorff, Gerontology Research Center, Faculty of Sport and Health Sciences, University of Jyväskylä