Europe Fintech

80% of teenagers want to be self-employed in the future and are more inclined to be freelancers

Electroneum reduces the age restriction to 14 to enable the most tech savvy generations a way to earn an income on AnyTask

Remember when phones moved on from disc dial-ups to touchtone and then to those fancy wireless devices and when video calls were something you would read about in a futuristic novel? Today, the world has changed dramatically. The younger generations can’t imagine a world without a touchscreen smartphone. They may not appreciate how powerful it is to have a hand-held computer that instantly connects them to the world at a push of a button.

Children grow up with iPads, iPhones, and Laptops, and know no borders. So, it is logical to believe this demographic, more than any other, will be increasingly inclined to work independently, remotely, reliant only on technology and innovation.

Younger generations prefer freelancing

survey by US-based freelancing firm Upwork is a clear indication that the younger generations are more likely to do online remote freelance works. The statement is supported by the fact that 80% of 13 to 18-year-olds responded they wanted to be self-employed. Also, the number of freelancers who do it because they want to is higher among the Gen Z population with 73%, compared with 66% of Baby Boomers and 64% of Millennials. Another indication is the age restriction freelancer platforms have, such as Fiverr and AnyTask, which allow for 14 years and over to sign up and use their websites.

The statement also makes it very clear that because the younger generations are born into a world where mobile devices and Internet connectivity are a central part of their lives, they will be more inclined to work remotely within the global digital economy. In fact, by 2025, the worldwide freelance community is expected to grow from about 150 million currently to over 520 million.

According to the Organisation of Economic Co-operation and Development (OECD), the working-age population is defined as those aged 15 to 64. People between 15 and 24 makeup, almost 20% of the world’s population and account for over 15% of the world’s labour force.

Freelance digital work, the best option

It could be said that in light of the International Labour Standards – as set forth by the International Labour Organisation (ILO) – the best labour sector for children between the ages of 14 and 18 is the freelance market. That is because it is considered light work, highly compatible with education, and helps them gain experience in a growing sector. That gives them an improved alternative over other informal jobs that do not require skills, are menial, and rarely lead to better employment.

The Minimum Age Convention of 1973 sets the general minimum age for admission to employment or work at 15 years or 13 for light work, including digital tasks as long as they are within the time limits of two hours a day or 12 hours a week. During their holidays, children are allowed to work up to 35 hours as long it is light work.

A 2014 survey by UK’s British telecommunications regulator, Ofcom, revealed that 14 and 15-year-olds are the most tech-savvy age group. The research also found that children aged six had a better understanding of communications technology than those aged over 45. The study added that 94% of children between 12 and 15 base their communication around text, and only 3% still do voice calls.

Children, teenagers are the most digitally-savvy

“Our research shows that a ‘millennium generation’ is shaping communications habits for the future,” said Ofcom CEO Ed Richards in a press release. “While children and teenagers are the most digitally-savvy, all age groups are benefitting from new technology. The convenience and simplicity of smartphones and tablets are helping us cram more activities into our daily lives.”

In a world where 26% of the population is under 15 years of age, and where the younger generations are more inclined to be part of the global digital economy workforce, award-winning crypto startup Electroneum has seen the benefit of providing easy access to people 14 and over onto AnyTask. That is the only global freelance platform that does not charge sellers of tasks any fees or commissions.

The global freelance website offers freelancers a way to earn an income with even just a smartphone. In the coming months, Electroneum is expected to launch TaskSchool, the free online platform where people can learn the essential skills they need to start earning ETN on AnyTask.

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