IT seems strange, but many people are forced into their own business. The choice to set up a business is not so much an ambition as something that is thrust upon them.

It’s a fact of life that older workers are often jettisoned from their jobs when companies restructure or merge. In most cases they will leave with accumulated benefits, superannuation and ­experience. But finding a new job can be a struggle.

The Human Rights ­Commission — backed by the federal government — has just launched a campaign to highlight and halt discrimination against older workers. But ­already there are plenty of older Australians who discover the only way to get a job is to create employment by starting their own business.

The dangers are immediate and obvious. Business often ­requires serious financial guarantees and undertakings from its owners and operators. ­Putting the house on the line is an altogether different prospect for a 50-year-old with kids compared with a younger ­person just starting out.

A slip for a 50-year-old can put a serious dent in their ­retirement nest egg. But if you consider the ageing of our population — the average age rises into the 90s in the next 40 years — there appears to be plenty of time for a 50-year-old to see a business to maturity. A bigger issue will be whether 50 year olds (and their families) have the risk appetite to ­embark on their own venture.

The next realisation dawning on many 50 year olds is that their superannuation is grossly inadequate to fund the next 30 or 40 years of their lives.

They need to work to ­survive financially, even if it means taking a risk and ­creating their own job.
OUT OF WORK PAIR PROVED THEIR METAL
COLIN Appleby and Alan Chaperlin are typical of many managers who find themselves out of a job after a company takeover. When their company Bosco was swallowed up, Colin was 58 and Alan was 56 — dangerous ages to be on the unemployment queue.

But Bosco left a few other things behind, with Colin and Alan picking up some contract work. Then came their big break. Long-term customer Hunter Douglas offered a decent contract on
the proviso that they could produce a business plan.

That business plan was the creation of CAM Metal Products, based in Leumeah in southwest Sydney.
They delivered the plan and in return Hunter Douglas offered seven-day payment terms, unheard of in these days of 30 days payment minimum and 50-plus as the norm.

Their plan was simple: to do all sorts of metalwork that had a thickness of 3mm or less, including metal cutting, bending, punching, welding and 3D design. They specialise in architectural metalwork, perforated ceiling panels, soundproof screens, trims and flashings. One client is the biggest skylight maker in Australia, Skydome. CAM Metal Products does all its metalwork on those.

To set it up they bought second-hand equipment and struggled to survive the GFC. But things have turned for the better, with the company recording its best year to date in 2014.

Now Alan won’t stop working. He knows what it’s like to be without work. “I’m 69 and I’m way too young to stop,” he says. “We’re now feeding 11 families and their kids. We can’t stop.”

Source: News.com.au

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