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140,000 small business owners working past retirement age, study suggests

One in five directors of small companies are aged 66 or over, according to research.

Many small business owners are working past retirement age (Dominic Lipinski/PA)
Many small business owners are working past retirement age (Dominic Lipinski/PA)

By Alan Jones, PA Industrial Correspondent

More than 140,000 directors of small companies are running their business past the retirement age of 66, a new study suggests.

One in five are aged 66 or over, showing how work patterns have shifted over the years, said accountants UHY Hacker Young.

Individuals are also becoming less likely to stay in one job for long periods of time, with the average worker changing their job every five years, it was estimated.

James Price, of UHY Hacker Young, said the outcome of Brexit could make it more difficult for directors to sell a small business quickly.

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