In today’s dynamic economy, professionals over the age of 50 represent a large untapped reservoir of talent, possessing invaluable institutional knowledge, deep industry experience, and a strong work ethic. The CHANCE Erasmus+ project, which focuses on supporting this demographic in their transition toward self-employment by developing accessible and engaging lifelong learning opportunities, particularly through the creation of a Massive Open Online Course (MOOC), has uncovered a significant disparity between the high level of motivation among these professionals and the reality of the obstacles they face. While interest in entrepreneurship is remarkably high – reaching as much as 67% among respondents in Croatia – the path to starting a business is often blocked by a combination of structural, financial, and psychological barriers that existing systems are not always designed to address.

A survey conducted across five partner countries – Croatia, the Czech Republic, Finland, Ireland, Slovakia – provides a clear map of the hurdles that characterize the “silver economy”. Across all regions, administrative complexity and bureaucracy emerge as the most universal grievances. In Slovakia, bureaucracy and legal complexity is the leading obstacle, cited by 62% of respondents. The Czech Republic shows a similar trend, where 55% of participants identify it as their most frequent barrier. In Croatia, while bureaucracy is a significant concern for 42% of respondents, it is overshadowed by other structural issues. Meanwhile, in Finland and Ireland the administrative burden remains a major factor but is often ranked alongside financial concerns. In Finland, 41% of respondents cite bureaucracy as a key barrier, while in Ireland, it is listed as one of the three “additional barriers” alongside access to finance and fear of failure.

If bureaucracy is the most common grievance, the lack of access to finance is often the hardest to overcome. This is particularly true in Croatia, where a massive 78% of respondents identify access to finance as their dominant barrier, significantly exceeding all other obstacles in the country. Finland also reports high levels of financial anxiety, with 68% of respondents listing it as their main structural barrier. In contrast, the Czech Republic appears to be the most financially confident environment for this demographic – only 20% of Czech respondents cite access to finance as a major barrier. Slovakia occupies a middle ground at 22%, suggesting that while funding is a concern, it is secondary to the legal and administrative “red tape” that dominates the Slovak entrepreneurial landscape.

Starting a business after 50 involves higher stakes than starting one at 25. For many, it involves risking retirement savings or family stability. This fear of failure or risk-aversion is a powerful psychological brake. In Finland, 38% of respondents are held back by the fear of failure. Similarly, 34% of Croats report this as a relevant secondary constraint, and in Ireland, the fear of failure is among top three barriers, indicating that even in a diverse and motivated cohort, the perceived risk of late-career failure remains a significant hurdle.

Figures for the Czech Republic and Slovakia indicate that this aspect worries the ‘silver entrepreneurs’ less – in the Czech Republic, 25% of respondents cite fear of failure as a deterrent, and 23% of Slovakian ones identify this psychological barrier. On the other hand,

The survey also highlights a split in digital confidence. In Croatia, digital literacy is virtually a non-issue; 84% of respondents describe themselves as “very confident” in their digital skills, and 0% reported being “not very confident”. Consequently, only 14% of Croatians see digital skills training as a support need. In Finland only 27% of respondents expressed a need for digital skills training However, in the Czech Republic, the “lack of digital skills” is a major hurdle, cited by 54% of respondents—making it almost as significant as bureaucracy. Slovakia also reports significant digital gaps, with 48% of respondents identifying this as a barrier, while in Ireland only 28% list the lack of digital skills as a barrier to entrepreneurship.

Finally, the isolation of the entrepreneur is a real threat. The Czech respondents have the highest need for a better support system, with 45% of respondents citing a “lack of support network” as a barrier. Much like Slovakia (26%), in Ireland, only 27% of respondents list this as an issue and they express high demand for one-to-one mentoring and live sessions.

The CHANCE project survey results demonstrate that the silver economy is full of highly educated and motivated individuals – many holding Master’s degrees (ranging from 42% in Czechia to 60% in Finland). However, their success depends on more than just their expertise. To unlock this potential, European policy must move toward reducing the bureaucratic anxiety seen in places like Croatia and Slovakia, and addressing the diverse digital and financial gaps that vary so sharply from one border to the next. Supporting the 50+ entrepreneur is not just a matter of professional reskilling; it is about dismantling the structural walls that stand in the way of experience.