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Empowering 50+ through Self-Employment: PRIME Initiative

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10 diapositives · 135 Views · Oct 23, 2019

PRIME drives financial, social, and personal fulfillment for over 50s via enterprise. Services include mentoring, workshops, and support for starting a business. Is this model the way forward?

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Empowering 50+ through Self-Employment: PRIME Initiative
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  1. prime Mobilising the full potential of those aged 50+ through self-employment and enterpriseLaurie SouthChief Executive – PRIMElaurie.south@ace.org.uk

  2. prime What is PRIME? Prince’s Initiative for Mature Enterprise ~ a charity / not for profit organisation linked to Age Concern England Mission To ensure everyone aged 50+ has the opportunity for financial, social and personal fulfilment through sustainable self-employment, business or social enterprise.

  3. prime The size of the issue in the UK

  4. prime Labour Market Detachment for 2.7 million aged 50-SPA (source SEU 2004)

  5. prime Different characteristics of 50+who are detached from the labour market

  6. prime

  7. prime So what does PRIME do? Recruitment & Awareness Raising ( community work-shops / outreach / internet / work with partners & intermediaries ) Mentoring (from the point of recruitment) Personal Development (workshops / self-help pamphlets) Sign-post on to Partner enterprise agencies (over 130 partners) Loans of last resort (temporarily suspended) Business club (just starting www.primebusinessclub.com)) Exit support (pensions information) Research into 50+ self-employment and enterprise

  8. prime Funding & Impact Turnover c 1 million euros p.a. Impact * 80% contacting PRIME detached from labour market * 43% contacting PRIME start a business (27% decide it is not for them )

  9. prime ConclusionCan we afford to do nothing? • Growing number of over 50s • Ageism in the labour market • Fewer under 30s for labour market • Unemployed becomementally ill physically sick socially isolated • Potential social welfare bill in 10 years time

  10. prime Is the PRIME model a way forward? Pro Linked to client need Not a government agency Flexible Multiple entry points Complements rather than competes Promotes partnership Research & campaign Contra Lack of funding – postcode lottery Funder impatience No curriculum