Letter to the Editor: Investing in Experience
El Diario Financiero published the letter “Investing in Experience” by Cristián Schalper, director of Entrepreneurship at the Luksic Foundation, and Paulina Las Heras, commercial manager at Caja Los Andes.
Mr. Director:
Chile is facing a profound demographic shift. According to the latest census, people aged 65 and older now account for 14% of the population, more than double the figure from 1992 (6.6%). In addition, nearly one-third of Chileans are 50 years of age or older.
This situation presents specific challenges: more than 500,000 people over the age of 60 live in multidimensional poverty, and unemployment among those over 55 has doubled in the last six years, rising from 3% to nearly 6%. However, we are not dealing with a passive generation, but rather with a group that has talent, networks, and a desire to continue contributing. An MIT study indicates that a 50-year-old entrepreneur is 1.8 times more likely to achieve exponential growth than a 30-year-old.
The problem, then, is not experience, but rather the conditions of the environment. In Chile, eight out of 10 older entrepreneurs report having faced difficulties in developing their businesses, and 71% identify clear gaps in access to financing. In a rapidly aging society, the challenge is not only to live longer, but to create real opportunities so that experience translates into independence and a better quality of life. Turning 50 marks the beginning of a new phase of development. Harnessing that potential is a shared responsibility among the government, the private sector, and civil society.
Cristián Schalper, Director of Entrepreneurship at the Luksic Foundation, and Paulina Las Heras, Commercial Manager at Caja Los Andes.
