The pension environment in Italy
By 2051, the retirement age in Italy could reach 69 years and six months, according to statements by the president of ISTAT. This scenario worries many Italian merchants, with a quarter of them (24.7%) planning to work over the age of 70. The reasons for this choice are many, but the dear life and the lack of cash are among the most significant. The SumUp Observatory on Financial Education in Retail has highlighted how pension planning is becoming a crucial issue for small entrepreneurs, who are faced with an increasingly complex economic reality
.
Merchants’ retirement planning
Currently, only 35.9% of merchants have activated a state pension plan, while 19.7% have opted for a personal plan. A further 18.1% have resorted to savings and investments, while 17.4% consider their company as their main means of retirement. However, a significant 30.3% of entrepreneurs are faced with limited financial resources, and almost a third (31.2%) say that the caravan has had a negative impact on their pension plans. These statistics highlight the urgency of greater financial awareness among traders, who must plan not only for the present, but also for the
future.
Challenges and opportunities for small entrepreneurs
The challenges that merchants face are not limited to retirement planning. The lack of knowledge about retirement options (12.6%) and regulatory complexity (19.7%) are among the most common concerns. However, there is no lack of optimism: only 1.9% of merchants feel inadequate in managing company finances. 48.9% are very confident in their abilities, with particularly strong skills in budgeting (33.1%) and cash flow management (26.5%). To improve their knowledge, many exhibitors turn to online courses and webinars, demonstrating a strong desire
to learn and adapt.