Letter to the Editor: Investing in Experience

Dear Editor,

Chile is facing a profound demographic shift. According to the latest Census, people over the age of 65 now represent 14% of the population—more than double the figure in 1992 (6.6%). In addition, nearly one third of Chileans are 50 years old or older.

This scenario brings concrete challenges: more than 500,000 people over the age of 60 live in multidimensional poverty, and unemployment among those over 55 has doubled over the past six years, rising from 3% to nearly 6%. However, we are not looking at a passive generation, but rather a group with talent, networks, and a strong desire to continue contributing. A study by the MIT indicates that a 50-year-old entrepreneur is 1.8 times more likely to achieve exponential growth than a 30-year-old.

The issue, therefore, is not experience, but the surrounding conditions. In Chile, eight out of ten older entrepreneurs report having faced difficulties when developing their businesses, and 71% identify clear gaps in access to financing. In a society that is rapidly aging, the challenge is not only to live longer, but to create real opportunities so that experience can translate into autonomy 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 state, the private sector, and civil society.

Cristián Schalper, Director of Entrepreneurship at Fundación Luksic, and Paulina Las Heras, Commercial Manager at Caja Los Andes.