It’s been two years since Gary Neville was mocked for taking mini-retirements on a business podcast.
The football pundit attracted eyerolls when he spoke of the benefits of choosing many shorter two-day breaks over retirement. Many said he had simply “discovered holidays”.
Now, though, mini-retirements seem to be gaining traction among SME owners. Is flexible working changing our attitudes to career breaks?
What is a mini-retirement?
“You can never really retire if you love work and you are relentless, but what you can have is mini-retirements during the year,” Neville explained to Steven Bartlett on the Diary of a CEO podcast in 2023.
“This weekend, I’m going to Spain, Friday ‘til Monday morning. I call that the mini-retirement,” he continued.
“That’s a weekend.” Bartlett responded, likely echoing many of our own thoughts on the concept.
In some ways, though, the idea has proved attractive to business owners. While Neville’s approach emphasises short, frequent breaks, one expert says that many entrepreneurs are using mini-retirements as intentional career pauses before their next venture.
“Micro-retirement offers a valuable opportunity for reflection and reinvention”, says Aman Parmar, Head of Marketing at BizSpace, a provider of flexible workspaces for SMEs. ““After selling a business or reaching a financial milestone, [entrepreneurs] use micro-retirement to travel, upskill or experiment with new projects before committing to their next big move.”
After years of hard work, selling a business can leave owners uncertain about their next move. A mid-career break offers the chance to step back, reassess goals, and return with renewed clarity.
For those planning their next chapter, mini-retirement might simply be a new way to describe a smart exit strategy.
Are ‘mini-retirements’ another Gen Z work trend?
While career breaks are not a new phenomenon, mini-retirements seem to be growing in popularity among the younger generation of entrepreneurs — known as the quarter-life gap year.
A shift has occurred from an old-school ‘work hard, retire later’ approach to the more ‘work smart, live now’ philosophy of Gen Z and Millennial business owners. It’s out with the grind, and in with work-life balance. Instead of delaying the gratification of retirement after decades of labour, younger entrepreneurs prefer to enjoy their life throughout by taking breaks.
This change is fuelled by a growing awareness of burnout and the redefinition of success beyond just financial wealth.
“Many Gen Z and millennial entrepreneurs see financial independence not as a final destination, but as a tool to design a career on their own terms,” adds Parmar.
Luckily for the younger generations, they have the resources to make career breaks feasible with flexible working arrangements.
Parmar continues, “Rather than disconnecting entirely during micro-retirement, many former business owners are choosing to stay engaged through coworking spaces.
“[Flexible working is] a perfect fit for the exploration and experimentation that emerging entrepreneurs are wanting to take on during periods of micro-retirement.”
Should career breaks be a beige flag?
Once considered a ‘red flag’ on your CV, it seems that both entrepreneurs and employees are now embracing the benefits of taking time off mid-career.
As many as 28% of 18-24 year-olds have already taken a career break. This reflects a broader shift in UK work culture towards flexibility. As the younger generation rethinks the traditional career path, a gap in the CV is becoming the norm.
Employers may need to adapt by no longer viewing them as a ‘red flag’ but as opportunities for employees to recharge, gain new perspectives, and return with fresh energy.
The post First Gary Neville, now entrepreneurs are also buying into ‘mini-retirements’ appeared first on Startups.co.uk.