The trend for people in the UK to become sole traders took has risen in the past few years and now stands at 1.7 million.
Research conducted by the insurer LV= found there are 1.7 million "one-man-bands" operating in the UK. Some 27% of these generate an annual turnover in excess of £51,000 and 5% earn in excess of £150,000.
The sector appears to be doing well, particularly through the straightened economic times.
Analysts say part of the rise of sole traders must be due to the increasing difficulty of finding work, especially permanent and full-time jobs. Some believe that the rise of self-employment has kept the unemployment figures lower than they otherwise would have been.
The trend has seen an increase in the number of older people working independently.
The rise in sole trader businesses is not under the radar. Last year, Chancellor George Osborne promised to crack down on staff employees attempting to set themselves up as companies in an attempt to pay less tax.
HMRC also said earlier this year that it would go after Britain's 400,000 direct sellers, such as Avon door-to-door sales staff, to make sure they were paying the right tax.
Already HMRC has brought in more than £100m since 2011 in its campaign against tax evasion as it searches through operations ranging from scrap metal trade to restaurants.
Figures released today reveal that £32m was collected in the first six months of the current tax year. Some £48m was raised in the 2012/13 tax year, while £24m was collected in 2011/12.
