The specialist accountants to contractors and freelancers has reported a 65 per cent increase in the number of new contractors and limited company formations this year, compared with 2009.
SJD Accountancy said : "Many more people are both choosing, and being forced due to economic conditions to set up a limited company and work for themselves. The alternative is finding a job in the incredibly difficult jobs market.
"With so many cuts to the benefits of so called 'jobs for life' such as the end of final salary pension schemes, the loss of golden handshakes (many people are lucky to get anything more than statuary redundancy), downsizing and pay freezes, it's not surprising that so many people are choosing to take matters into their own hands and go it alone."
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Susie Hughes © Shout99 2010