The average age of directors and founders in the warehousing and distribution sector is significantly lower than in transport and logistics, according to research by Approved Business Finance.
The research used data from Companies House to analyse the average age of 2,000 founders, chief executives and MDs in the UK’s biggest businesses across 20 different sectors.
Warehousing and distribution was revealed to have an average age of 52 years, just behind the travel and tourism sector where the average age for leadership roles is 50 years.
However the automotive and transport and logistics sectors had the oldest profile of all the sectors bar architectural practices, with an average director age of 58 years. In addition the research found that, across the top 100 companies in each sector, none had an average age below 50 years old.
The analysis suggests that the age profile in this sector could be linked to the fact that over 250,000 transport businesses listed are family enterprises.
The research also suggests that a combination of age ranges in a business could boost productivity and innovation, with older employees picking up newer skills and, in return, younger employees benefitting from the experience of senior executives.
Rory Dunn, Approved Business Finance founder said: “Bridging the gap between older and younger generations could be the key to creating a successful business. In today’s competitive market, organisations need to be innovative to stay ahead of the competition and even within our own team, this has proved beneficial.
He added: “Having a mixture of ages creates a well-rounded team; everyone can bounce off each other and it produces a tenacious and resilient environment which is great for the growth of a company.
“Many young CEOs are demonstrating that there are ways for under-30s to enter what was once considered the domain of their elders and become effective business leaders. By working together, both can learn from each other and build a company that is rewarding for those within the business.”