From Strategies to Action: Two Central Baltic Projects Strengthen the Silver Economy

Across the Central Baltic, an ageing population is reshaping work and society. In Finland, as in many EU countries, older adults make up a growing share of the population while fewer young people enter the labour force, making every person’s knowledge and effort count. Two Central Baltic projects – Silver Strategies and Silver Entrepreneurs – address this challenge by unlocking the potential of older adults and fostering workplaces where all generations can thrive.

Over the past months, Silver Strategies and Silver Entrepreneurs will have concluded with complementary contributions to the silver economy, from strategic frameworks to grassroots entrepreneurship to address active ageing in Finland, Estonia, Latvia and Sweden.

“These two projects prove that ageing is not an obstacle but an opportunity – inspiring workplaces to value senior talent and empowering older people to turn their dreams into real businesses” explains Silver Strategies and Silver Entrepreneurs project manager Sintija Danenbergsone from the Latvian Chamber of Commerce and Industry (LCCI).

Silver Strategies for Building Age-Inclusive Workplaces

Silver Strategies focused on the strategic level to improve labour market opportunities for people of preretirement and retirement age (55+). For over 30 months, the Latvian, Estonian, and Finnish partners, led by the Latvian Chamber of Commerce and Industry (LCCI) with the Estonian Chamber of Commerce and Industry (ECCI) and Satakunta University of Applied Sciences (SAMK), worked side by side to develop regional strategies that create age-inclusive workplaces and promote active and healthy ageing. By engaging municipalities, wellbeing organisations and businesses, the project created long-term models to adapt services and foster innovation in the face of demographic change.

The complementary strengths of the partners were crucial to the project’s success. At the national level, Finland’s Satakunta University of Applied Sciences (SAMK) contributed deep expertise in age-inclusive employment and lifelong learning, ensuring that the handbook’s strategies are relevant and practical for workplaces in Finland and across the Central Baltic region.

“Satakunta University of Applied Sciences (SAMK) participated in the Silver Strategies project as a partner. SAMK mentored companies in developing good practices for age management and organized seminars and company visits for benchmarking. In addition, SAMK integrated the knowledge produced in the project into education and disseminated the project results nationally and internationally through conferences, publications, and the project handbook, explains senior lecturer and project manager Riitta Kärkkäinen from Satakunta University of Applied Sciences (SAMK).

Practical Results and the Silver Strategies Handbook

The Silver Strategies- project investigated labour market trends in Latvia, Estonia and Finland, showing the growing importance of employees aged 55+. It engaged a total of 36 companies to pilot joint strategies such as flexible work models, lifelong learning, mentoring schemes and phased retirement. The project facilitated cross-border knowledge transfer through joint trainings, peer reviews and company visits.

One key output of the project is the online Handbook “Joint Strategies for Silver Economy”, which outlines seven practical strategy areas: from recruitment and career development to workplace well-being and anti-discrimination – backed by case studies and checklists.

Silver Entrepreneurs: Turning Ideas into Businesses

Silver Entrepreneurs, also led by LCCI, together with the Latvian Adult Education Association (LAEA), Folkuniversitetet stiftelsen kursverksamheten vid Uppsala Universitet (Sweden) and Tampere University of Applied Sciences (Finland), empowered individuals.

Through interactive training, mentoring and international mobility events in Latvia, Sweden and Finland, 80 participants aged 60+ turned their ideas into concrete business plans and discovered the value of peer support and learning by doing.

Tampere University of Applied Sciences (TAMK) played a pivotal role by helping participants transform long careers and “hidden skills” into successful new businesses. Its group-based training, built on service design and strong peer interaction, equipped participants with the confidence, networks and practical know-how needed to launch or develop their own businesses. The goal was that, by the end of the coaching, each participant would have a viable business plan.

“In TAMK we used our own coaching methods and had less individual coaching than other partners. This was because our participants preferred a group approach, and they formed a tight and united group who helped and supported each other. From the international part in Tampere, our meeting with Sauna experience was highly appreciated. The Finnish group has remained tight and just had a Finnish crab party, even though the project has already ended for us. It was such a pleasure to be part of their journey to 60+ entrepreneurship”, state project managers Eeva Heikkilä and Leila Kakko from TAMK.

The Silver Entrepreneurs project also published an Online Catalogue, which presents the business projects of senior participants who have transformed their ideas into practical initiatives.

Learning by Doing and Cross-Border Exchange

The training was specially designed for people aged 60+, who wanted to become entrepreneurs or further develop their entrepreneurial skills. The aspiring entrepreneurs all came with diverse backgrounds while sharing the same goal – they wanted to turn their dreams and ideas into reality. The variety of participants enriched the learning environment and encouraged an active exchange of experiences, with everyone contributing something unique to the training.

Also, three international mobility events, including a three-day gathering in Riga, sparked cross-border cooperation while local visits ranged from Latvia’s “Kota Nu” leisure centre and a local winery to Sweden’s fair-trade shop Globalen and Finland’s Dammenberg chocolate factory.

Now, a strong community of participants, trainers and mentors continue to provide mutual support even after the project’s end.

From Projects to Lasting Change

While the projects have formally concluded, their results will continue to make a difference. Their outputs, such as the Handbook and Online Catalogue along with the strong entrepreneurial networks created, provide practical tools and connections that can be scaled and adapted elsewhere.

The results will continue to inspire municipalities, companies and individuals across the Central Baltic region – and beyond.

Text: Anne Jylhä, national Contact Point Finland, 26.9.2025.