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Going freelance when you're over 50

Self-employment is a popular option. One in four men aged 50-65 is self-employed (but only one in ten women)

Jim Green, author of Your Retirement Masterplan reckons the best areas for "third age ventures" are the ones which offer flexibility in terms of the commitment you make and whether you can work from home.

You will need to write a business plan and test your idea before getting finance.

See My Own Business for a free online course in running your own business (although American it's well regarded in the UK).

Another source of useful advice is on starting a business is Businesslink - a Government quango – which also provides a network of small business advisers across Britain. The website also has a listing of grants and support available.

If you are over 50 and have been out of work and on benefits for six months or more, you can join the Government's New Deal 50+ scheme, which entitles you to a training grant of £1,500 and future help through tax credits.

See Jobcentreplus or ring the helpline on 0845 606 2626.

Learn Direct has details of college courses open to all (after October, colleges cannot put age limits on their courses).

Written by Rachel Carlyle

This article was created: 19 July 2006.
This article was last edited: 7 November 2006.

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