Retirees are rewriting stereotypes and redefining retirement thanks to the NBN™. It’s called E-tirement and it’s the latest thing in retirement in Australia.
The NBN™ Silver Economy Report shows how connectivity is driving a ‘seniorpreneur’ movement. In fact – the seniorpreneurs represent the fastest growing segment of entrepreneurship internationally and in Australia.
What is a ‘seniorpreneur’? This term was developed by Dr Alex Maritz, Professor of Entrepreneurship at La Trobe University and refers to Australians 60 years or older who are considering starting up a new business venture as a late-career change.
Increased access to high speed internet is creating new opportunities for Aussie seniors currently in, or approaching retirement. So how are they doing it? The answer is through business startups. Aussies are embracing the small business opportunities that are becoming readily available thanks to the NBN™.
A total of 58% of Aussies aged 60 and over have considered starting a business during their retirement period. The NBN™ Silver Economy Report shows that the decision to jump into the startup world has a number of key motivators. Of those surveyed, 67% sought to continue to earn an income, 58% wanted to pursue projects they’re passionate about, 55% wanted to remain mentally stimulated, 37% were passionate about giving back to society by volunteering, and 30% were looking to keep physically active.
With a lifetime of experience behind them, Aussie seniors who are ready for their next big adventure are becoming digital entrepreneurs. Seniors have shown to be more successful at starting a business than Gen Y, bringing years of business experience, managerial skills, strong networks and industry insights. Baby Boomers are expected to start 14,000 new businesses every year, that’s more than double the start-ups expected from Gen Y!
Aussie seniors are more tech-savvy than ever before, with Aussies aged 50 – 65 years old owning an average of five connected devices and over a third of seniors saying they spend 3 – 4 hours online each day. Online connectivity is revolutionising the way Aussies spend their retirement by switching out hobbies for entrepreneurship and education thanks to a fortune of online tools powered by the NBN™ network such as video tutorials, videos, ‘how to’ articles, and education resources. In fact, 61% of Aussie seniors agree studying online is the preferred way of satisfying their education needs and 73% say that they feel like they have the resources and confidence to start a new business.
Doing business online allows a single individual to create, market and sell products and services to a worldwide customer base from the comfort of their home. Thanks to the NBN™ the boundaries are coming down and increased access to fast internet is helping entrepreneurs to reach more people with fewer overheads.
There are a number of senior online education organisations that recognise this passion for continuous learning in retired Aussies. Here are just a few you may want to check out.
Are you a Seniorpreneur? Let us know in the comments!