Study: More than 100,000 company directors over the age of 66 are still running their business

Many of those still working have failed to sell their company before their planned retirement, said business advisers BDO LLP.

Research among 730 directors indicated that 113,000 are still working over the age of 66, while one in 10 is over 70.

Selling a business takes an average of nine months, said the report.

Mark Lamb of BDO said: “Many directors face working well into their 70s, not always out of choice but because they have failed to sell their business.”