The factors that influence the state of readiness for entrepreneurial opportunities: a case study of late-career professionals, managers, executives and technicians (PMETs) in Singapore

Singapore's population is fast-ageing, with people over 50 years old are projected to rise from 37.2% in 2020 to 46.4% by 2030. Countries that face similar ageing population demographics have seen a triggering of unsustainable dependency ratio. This impending trend needs urgent reviews of government policies on seniors, including advocating Entrepreneurship as a viable option. Past research has shown that those communities pushing for senior Entrepreneurship have benefited socially and economically. Older workers like late-career PMETs are recognised to have possessed the necessary entrepreneurial competencies. These managers are presumed to have the proper personal dispositions and might have acquired a high level of technical and organisational skills, vast tacit knowledge and business experience, and a broad network of contacts during their career tenure. These unique inherent qualities give them a competitive advantage to be successful Entrepreneurs compared to their younger cohorts. Despite that, the conversion rate for late-career PMETs to Entrepreneurship remains low, contributed by both a lack of income insecurity and a self-perceived state of entrepreneurial readiness. Thus, this research aims to determine the inherent factors influencing the perceived readiness of our Respondents to identify and exploit entrepreneurial opportunities. Findings will contribute to conceiving a self-assessable scorecard to assess the preparedness of late-career PMETs and assist in their transition to Entrepreneurship. It can also help trainers and educators develop appropriate curricula and pedagogies for more effective training interventions. The study follows a thematic review of the literature and employs a quantitative survey on 384 purposefully selected samples of senior PMETs. Survey data collected through a digital questionnaire provided empirical findings that the inherent factors of Psychological and Human Capital do significantly influence the late-career PMET's state of readiness towards opportunities. Findings on Social Capital revealed that the intangible determinants such as network familiarity, shared cognition, shared trust and confidence are responsible for boosting network strength to influence the Respondents' perceived state of entrepreneurial readiness.

Name dc:type.qualificationname

dba

Level dc:type.qualificationlevel

doctoral

Grantor dc:publisher.institution

University of Wales Trinity Saint David

Year dc:date.issued

2022

Author dc:creator

• Ng, Kee Chye

• HD28 Rheoli. Rheoli Diwydiannol

Dc Identifier Grantnumber

UWTSD

OAI identifier oai:identifier

oai:repository.uwtsd.ac.uk:1970