Self-employed consider moving abroad, survey finds

Entrepreneurs are looking to Australia to escape recession woes

A quarter of self-employed people in the UK would consider moving abroad in the next five years, a survey suggests.

The poll of 2,000 small and medium-sized firms cited the lure of a better work/life balance as the main reason.

Two out of five bosses say looming tax rises make them look overseas, while a third feel relocation offers a better chance of building a profitable empire.

The most popular destinations are New Zealand and Australia, the survey by broker Foreign Currency Direct reveals.

The firm's director Stephen Hughes said: "Given the state of the UK economy it's hardly surprising that so many self-employed people are considering moving their business interests abroad.

"We've seen a significant jump in self-employed people transferring money abroad to set up their businesses as well as paying for big ticket items such as rental deposits and cars."

The most eager amongst smaller businesses to consider a move are those in the banking and finance, hospitality and leisure, and professional services sectors.

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