The nexus between ageing population, innovation, entrepreneurship and sustainable development

Abstract

Research on the nexus of innovation, ageing population, entrepreneurship and sustainable economic development is a matter of tremendous interest latterly, as researchers are studying for solution leading to sustainable economic development and encouragement to entrepreneurship. According to Grilo and Thurik (2005), the entrepreneurial activity is at the heart of competitiveness, productivity growth, innovation, economic growth and job creation. Given this context, the article aim to observe connection between sustainable development and ageing population from the perspective of notional reflection in literature and examine the process in European Union states. The method of research is based on analysis of relevant comparison and interpretation. The research consequences indicate that sustainable economic development and entrepreneurship have supported by innovative small and medium enterprises and point out that Innovation is the gear of sustainability. On the other hand, ageing population of the European Union is a barrier of sustainable entrepreneurship.