This year has seen a 70% increase on 2009 in the creation of contractor limited companies, according to accountancy firm SJD Accountancy.

Simon Dolan, managing director of SJD Accountancy, says: “We’re not surprised in the least and although the contractor market had been heavily impacted by the recession, it makes perfect sense for both new and suspended projects to be relaunched and managed by contractors.

“Contractors offer a far more immediate solution to companies wanting to move swiftly and once again begin to build their businesses again. I’m sure the number of contractors will continue to rise throughout 2010 and I am sure many people who were affected by redundancies will also turn to contracting after having their confidence in the so called ‘permanent job’ market shattered.”