Life Starts at 60 for these Senior Citizen Entrepreneurs

Age is no bar for entrepreneurship if one gets a leg-up — this is what the Tamil Nadu Elders For Elders Federation is proving now. An amalgam of 450 self-help groups, it has inked an MoU with Bengaluru-based Nabard Financial Services (Nabardfs) to open firms by elders. They will venture into fish export and allied agriculture businesses with the credits amounting to nearly Rs 5 crore this year. Elders ditched by their families are now confident and ready to lead life afresh.

Elders Federation managing trustee, Septuagenarian S. Arunachalam, said, “We have a strong network of enterprising elders in Vedaranyam, Nagapattinam and Cuddalore. At present, we are running our firms as small units. Nabardfs was happy with our performance and is ready to give us credit money.” reports DC.

He recalled how many bankers in Tamil Nadu hesitated to provide loans for elders self-help groups. “We were embarrassed as many bankers refused to provide loans and told us that they were not sure about the returns from us. This project will set an example for the empowerment of elders,” he added.

Out of the total 6 crore population in Tamil Nadu, nearly 7 per cent fall into the category of senior citizens, he pointed out. Elders are engaged in selling fresh and dry fish products, vegetables and milk products. 63 year old C. Kuppammal in Nagapattinam, with 12 of her self-help group members, will start her own dry fish shop.

Posted on January 30, 2012, in Business, Editors Corner and tagged , , , , , , , , . Bookmark the permalink. 1 Comment.

  1. That’s a great info !
    Life starts at 60 for senior youths 🙂

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