Australia: "Retire Bizzi" and Make Money

Australia: "Retire Bizzi" and make money

The American Association of Retired Persons
According to the Australian Bureau of Statistics, the number of small business operators aged over 50 rose by 7 percent between 1995 and 2004. Instead of using their retirement as 10-15 years of leisure time, older Australians are using their age and experience to launch successful small businesses. Authors Jill and Owen Weeks, co-directors of Lifestyle Matters Pty Ltd, took notice of this continuing trend while doing research for their book Where To Retire In Australia.

The couple began visiting towns and searching for information regarding economic development and small business opportunities for people over 50 who had ‘retired’, and wanted a change in pace. As the research progressed, they kept encountering older people who had left their careers to establish a small business or profitable hobby. From this, the idea for Retire Bizzi was born. The book offers advice on how to start a business without risking your retirement income. It also contains 101 case studies of people 50+ who have become entrepreneurs, and are passionate about their new lives. Helpful hints to the 50+ include:

*Research your business idea;
*Don’t spend too much money starting your business;
*Develop ways to attract new customers and;
*Make sure you get paid—preferably up front.

Annette Sym, featured in Retire Bizzi, was recently named as one of Australia’s top women entrepreneurs by Australia’s Business Review Weekly magazine. She came in at number 27. Annette writes healthy recipe books and has sold over 1.5 million copies. She started at her kitchen bench and was refused a loan by the banks; her in-laws loaned her the money and the ‘rest is history’!

Ron Bloom, 70, has three words of advice for retirees thinking of starting up their own business: Just do it.

When Mr. Bloom retired at 65 from his career in the computer industry, he “stuffed around with stocks and shares” and did various other things retirees do. After a year in retirement, the lack of activity and regular income wore him down. So he transformed his bedroom into an office and started up Inkredible Inks Australia.

When asked about the response to the book, Jill Weeks said: “The feedback we have received has indicated that it has given many people hope and inspiration. One couple, for example, heard us speaking at a seminar, came up to us afterwards and said, ‘You are speaking our language.’” In addition to accolades from older adults, Jill and Owen have been asked to speak with clients of Superannuation funds, financial planning firms, accounting firms and other companies around Australia about businesses and hobbies. They are also featured on television and in many publications.

Retire Bizzi is now a culture—Jill often refers to them as “Retire Bizzi people.” She says “These people are inspiring, are focused, are doing something they love and have a passion for what they are doing. They are great Ambassadors for showing that age is irrelevant.”