Money News
The Internet is offering an important financial lifeline to reluctant retirees, according to a new report from Birmingham Midshires' Life 2 campaign. The latest report has found that one in ten of over-45s is now self employed and that this group is increasingly turning to the Internet to grow their businesses.
Seven per cent of over-45s surveyed claimed that they are solely reliant on the Internet to make money and form business relationships and at least 40% say the Internet is important to their business, a strong indication that the UK looks set to follow the US, where 25% of small businesses are entirely online.
The report further fuels recent debate that affluent early retirement may be a myth, with an estimated one million baby boomers struggling to find work because of their age.
In addition to those relying on the Internet to grow their business, 60% of the over-45s surveyed had traded on eBay at least once.
The Life 2 report has also found that 14.5% of the over-45s claim 'Interpreneur' status, people who use the Internet for earning extra money aside from their day job. The report found the Interpreneur group tends to be very affluent, predominantly male and living in London and the South East.
Meanwhile, 9% of men aged over 45 rely on the Internet to make money and form business relationships. This figure falls to 5% amongst women. However, 12% of the over-45s in London are solely reliant on the Internet to make money and form business relationships, the highest of any region.
08 March 2007 © Moneyextra.com
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