The initiative addresses a growing global reality. Today, more than 1.1 billion people worldwide are over 60 years old — roughly 13% of the global population. Within the next five years, that number is projected to reach 1.5 billion. 
This demographic shift is driving what economists call the "silver economy" — a sector centered on the needs and aspirations of people 50 and older. As lifespans extend and quality of life improves, older adults are emerging as dynamic consumers, workers, and entrepreneurs. 

The global silver economy was valued at US$2.75 trillion in 2024, grew to just over US$3 trillion in 2025, and is forecast to exceed US$5.4 trillion by 2035. 

Within this expanding landscape, "silver entrepreneurship” older individuals launching and scaling their own businesses — represents both a personal opportunity to channel decades of their experience and to contribute to economic development.

The programme was delivered at business support centers in ten cities and regional towns. Over four months, participants received mentoring support, mastered digital technologies, and expanded their business networks.
"This initiative has demonstrated that entrepreneurial spirit knows no age limit and that experience is invaluable startup capital. We didn't just train 500 people; together with UNDP, we created a working and importantly, scalable model. Now, any business support center in the country has a ready-made, effective tool to assist older individuals in starting and growing their businesses using proven methods," said Olga Rusinovich, Director of the Entrepreneurship Department of the Ministry of Economy of the Republic of Belarus.

The initiative targeted both potential and existing entrepreneurs aged 50 and over from diverse regions of Belarus. The program was conducted at BSCs in Minsk, Vitebsk, Brest, Mogilev, Gomel, Polotsk, Svetlogorsk, Shchuchin, Kopyl, and Smorgon. Participants represented more than 15 business sectors, including services, education, crafts, trade, medicine, agriculture, IT, advertising, and marketplaces.

A total of 165 applications were submitted for the mentoring program, and 55 individuals were selected to participate. Each participant became a mentee and was paired with an individual mentor to help them develop their business ideas. Including consultations, seminars, and webinars organized by the BSCs, the initiative reached around 500 participants in total.

The motivations of participants varied widely. Some were active members of the older generation who had recently recognized that their hobbies, such as cooking or gardening, could generate income. Others were approaching retirement and viewed entrepreneurship as a means to supplement their income. Former managers sought to leverage their accumulated experience to launch their own businesses. Additionally, many older entrepreneurs participated in the program, looking to grow existing projects but needing support and resources. Digital marketing drew particular interest, with nearly 400 applications submitted for this thematic area.

Participants received guidance on modern business practices and the use of digital technologies.
Simultaneously, the initiative served as a platform for building professional connections: participants shared experiences, found partners, and expanded their business networks. Mentors also gained valuable experience by applying their knowledge in practice, helping participants achieve tangible results, and enhancing their professional credibility.

The primary goal of the initiative was not one-time training but the establishment of a sustainable support system for the long term. The "boxed solution" developed has already demonstrated its effectiveness in practice and is now available for use by all business support centers catering to the "silver" age audience.

This work aligns with broader UNDP efforts worldwide. Through the UN's Decade of Healthy Aging (2021-2030) initiative, UNDP supports programmes that help older people remain active, healthy, and economically engaged. By funding strategic planning and practical interventions — from improving access to healthcare and technology to creating pathways for entrepreneurship — UNDP is working to build inclusive economies where people of all ages can thrive.

For reference: Currently, there are 69 business support centers and 17 small business incubators in Belarus, open to anyone interested in starting or growing their own business. A complete list of business support centers, along with descriptions of available services, can be found on the official portal for small and medium-sized enterprises at msp.bel (in Russian).