The impact of population aging on business innovation: a comprehensive overview

Population ageing is defined as the number of people aged 65 and over reaching 7 per cent of a country's total population. As our country enters the twentieth century, it is also entering an ageing society. On the one hand, population aging affects the effective supply of labour, the physical function of workers declines along with their willingness to work, and the burden of supporting the labour force in their prime years increases, which increases the operating costs of enterprises, hinders enterprise innovation, and is not conducive to technological advancement; it also pushes enterprises to increase their investment in human capital and technological innovation, enhances labour productivity, and promotes enterprise innovation. As the technological paradigm shifts, latecomer firms can win the competition, offset the negative effects of population ageing, and achieve technological innovation and economic growth as long as they are at the top of the shift.