Study Rethinks When and Why Entrepreneurs Succeed
Entrepreneurship is often portrayed as a pursuit best suited to the young, but new research from Schulich is challenging that assumption, revealing how age fundamentally shapes the entrepreneurial journey — from motivation and innovation to persistence and definitions of success.
The findings are detailed in a new paper, “Entrepreneurship, age, and the lifespan: Taking stock and avenues for future research,” published in the January 2026 issue of the Journal of Business Venturing (Volume 41, Issue 1). The study is co-authored by Moren Lévesque, Professor of Operations Management and Information Systems at Schulich and the CPA Ontario Chair in International Entrepreneurship, alongside Ute Stephan of King’s Business School, Teemu Kautonen of NEOMA Business School, and René Bakker of Tilburg School of Economics and Management.
Drawing on more than a decade of research, the authors examine how age influences every stage of the entrepreneurial process — from early intentions to long-term persistence and re-entry after exit. Their work offers a more nuanced understanding of entrepreneurship as a lifelong phenomenon rather than a single moment tied to youth.
“Entrepreneurship is not a one-size-fits-all path,” says Prof. Lévesque. “Age impacts every phase of the entrepreneurial process. Understanding these dynamics can help us foster a more inclusive and diverse entrepreneurial ecosystem, where both young and older entrepreneurs are valued for their unique contributions.”
The paper identifies ten key themes that characterize the relationship between age and entrepreneurship, highlighting the distinct strengths and challenges entrepreneurs face at different life stages. Younger entrepreneurs often demonstrate high levels of resilience and innovation but may struggle with limited financial and social resources. Those in midlife typically bring deeper experience and skills, while balancing financial pressures and competing family or career demands. Later-life entrepreneurs benefit from extensive expertise and networks yet frequently encounter age-related bias.
“Entrepreneurs in their later years often prioritize intrinsic rewards like fulfillment and autonomy over financial success,” Prof. Lévesque adds. “This shift in motivations challenges traditional assumptions about entrepreneurship being a wealth-driven pursuit and suggests that we need to rethink how we support entrepreneurs at all stages of life.”
Addressing age-related stereotypes emerges as a central finding of the study. Younger entrepreneurs are often perceived as inexperienced and face barriers to mentorship, funding, and credibility, while older entrepreneurs are frequently overlooked due to ageist assumptions, despite their proven capabilities and knowledge.
To advance the field, the authors outline several directions for future research, including deeper examination of how age influences entrepreneurial motivation and wellbeing, as well as how age-related biases affect decisions to enter, persist in, or exit entrepreneurship.
“We need to look beyond traditional narratives and ask how society can better support entrepreneurs throughout their lives,” says Prof. Lévesque. “By understanding how age affects motivation, performance and outcomes, we can create more inclusive ecosystems that foster innovation at every stage of the entrepreneurial lifespan.”
