What is Third-Age

Studies on senior citizen entrepreneurship are generally inconclusive on the likelihood of whether senior citizens can successfully start businesses. The debate primarily revolves around the willingness and ability of third-age people to consider entrepreneurship as a way forward in the latter part of their lives. This chapter seeks a shift in perspective whereby senior citizens are re-categorized as entrepreneurs and productive members of the economy and not as recipients of government and social benefits and care. The study therefore examines the readiness of senior citizens to start their entrepreneurial journeys and explores the factors that can act as a catalyst towards this end. In view of that, this chapter aims to identify the gap that may exist between the senior citizen's willingness and ability to participate in a homestay business. In effect, the chapter seeks to frame a conceptual model for senior entrepreneurship and proposes various forms of interventions that would close this gap and enable senior citizens to contribute to the society.