EVERY week, scores of little pastries, cream puffs and chocolate eclairs that Madam Tumilah Selamat bakes in her tiny Bedok kitchen are served up at weddings, parties and seminars across Singapore.

After retiring as an executive assistant in 2005, the 64-year-old widow channelled an old passion - baking - into a business opportunity. She needed the money and a productive way to spend her time.

Her home business is growing steadily. She now makes wedding gifts as well, some of which she exports to Perth, where her daughter lives.

A PASSION THAT PAYS OFF 'I am still fit and I grabbed the chance to earn money doing something I loved.' - MADAM TUMILAH SELAMAT (above), 64, who started a home business baking pastries and making wedding gifts after retiring as an executive assistant in 2005. Her monthly profits can hit $800

Despite working only two or three days a week, her ventures turn in a monthly profit of around $800, which she says is a 'big enough sum' for her.

As an ageing Singapore grapples with the issue of old-age financial security, some experts hope that people like Madam Tumilah could spark a trend of older people setting up their own businesses.

But these are early days yet. Last year's results from an annual National University of Singapore survey monitoring entrepreneurship trends here showed that only 2.4 per cent of those polled in the 55 to 64 age group said they had set up a business in the past three years.

That was far lower than the 7.4 per cent polled in a similar study in Australia.

Speaking to The Straits Times during his visit to Singapore last month, Nobel Peace Prize winner Muhammad Yunus said going into business was especially useful for older people who did not want the rigidity of working fixed hours.

Prof Yunus, the founder and managing director of Grameen Bank, has helped lift millions out of penury in Bangladesh by offering them small, collateral-free loans to start businesses.

Grameen's 'micro-credit' model is now being replicated in more than 100 countries worldwide, including developed nations.

Although most of the bank's borrowers are women, Prof Yunus said older folk also featured in its customer base.

'After retirement, many of the elderly return to their former professions as teachers or instructors,' he said. 'Others want to use their hobbies to generate an income.'

Singapore's Institute of Policy Studies (IPS) is exploring whether micro-credit can make more headway here.

Potential customers like Madam Tumilah say it could be a boon to those who are confident their businesses will work.

In 2005, she kick-started her ventures with a $1,000 grant from the Association of Muslim Professionals.

'I am still fit, and I grabbed the chance to earn money doing something I loved,' said the youthful-looking woman, who raised three children on her own after being widowed at 38.

And while she is not sure whether she would have taken a loan to get started, she is more amenable now that she has tested the waters and wants to expand her operations.

But micro-credit is not the only option for elderly folk who want the independence of self-employment without shouldering big risks early in their ventures.

Grassroots and voluntary welfare organisations have begun helping retirees to be financially self-reliant by promoting their services in the neighbourhood.

One such initiative, in Member of Parliament Sam Tan's Radin Mas ward in Tanjong Pagar GRC, was lauded by Prime Minister Lee Hsien Loong in his National Day Rally speech last month. Called Project Golden Service, it allows elderly folk living in one-room rental flats in the area to earn pocket money by providing a variety of services ranging from watch and shoe repair to plumbing, electrical work and even giving haircuts.

On Sunday mornings, many older folk, such as former plumber-cum-electrician Yeong Kum Weng, 78, set up stalls near the local market to sell their skills.

'This is a good way for people like me who don't have children to make money,' said the bachelor, who lives alone.

But getting customers can be difficult, says Singapore Action Group for Elders (Sage) chief executive officer Phua Kok Tee.

He should know. In April, he helped set up Maintenance on Wheels, a plumbing and electrical repair service manned by retired technicians.

'Many of these men were coming to us looking for jobs as cleaners - which would have been a waste of their skills,' said Mr Phua.

As part of the programme, prospective clients can call Sage to engage the services of the retirees.

But despite distributing flyers in HDB mailboxes in Toa Payoh and Bishan and getting some media coverage, the six workmen raked in only $745 in four months.

'I'm hoping we'll get more jobs in time,' said Mr Phua. 'As we age, society needs to get used to service by the elderly.'

IPS senior research fellow Yap Mui Teng is sanguine that this can be done.

In Japan, a network of 'silver human resource centres' now maintains databases containing names of nearly 800,000 retired gardeners, cleaners, administrators and technicians.

They land jobs that can net them nearly $800 or about 60,000 yen a month.

'Selling your services does not involve much capital,' said Dr Yap, who studies policies with regard to ageing.

'So the chances of getting burnt are much less.'