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London, 29th January 2008 – Website booms as credit crunch and potential recession triggers increase in number of people seeking second income.

SetYourRate.com – the online marketplace for buying and selling services – has reported a surge in individuals selling a wide range of services through the website to supplement their primary income and mitigate the effects of the credit crunch and a depressed UK economy.

The news comes as last month’s Bank of England survey of 2,000 people revealed that 9% of Britons (around five million people) were considering taking a second job or working overtime.

Since its beta launch in November last year, SetYourRate.com has grown rapidly. As a free platform for individuals to market their skills and services, the site has proved popular with people looking to generate extra cash.

Services on offer range from the useful (e.g. handyman) to the unusual (e.g. burlesque dancer). In addition, as service profiles are able to remain anonymous on the site, many people advertise their day-job skills (e.g. bookkeeping) for freelance and moonlighting opportunities.

Many people test the market demand for each of their skills and maximise their earning potential by creating numerous service profiles. For example, one anonymous user offers three distinct services: flat-pack furniture building, general PC support and web design.

The Bank of England’s findings were optimistic that despite many people struggling to make ends meet, the UK’s strong economy is still generating opportunities for people to earn more. SetYourRate.com Managing Director Luke Aviet considers this key to the site’s booming numbers.

“The attraction of SetYourRate.com is twofold in the current economic conditions,” he argues. “People want to create opportunities to earn extra cash – which they can for free on SetYourRate.com – and people want to buy a wider range of services than ever before.”

TV producer Georgia Merton uses SetYourRate.com to market wedding filming and video production – a service she offers at weekends. Ms Merton uploaded her SetYourRate.com profile in early November, soon after the site launched in beta. Her first job generated through the site was secured within weeks – a Christmas wedding.

“Interest rate rises and the increasing cost of facilities meant I was struggling to make ends meet on my day job wages,” says Ms Merton. “I heard about SetYourRate.com and as it’s free to use thought ‘why not?’. I now receive around one enquiry a week through the site and I currently film one wedding a month, which is helping my finances enormously.”

For further information, images and interviews, please contact:

Sami McCabe
m: +44 (0) 7789 777 440
t: +44 (0) 20 8849 8180
f: +44 (0) 20 8899 6001
e: sami@ubiquitycomms.com

This press release was distributed by ResponseSource Press Release Wire on behalf of Forge London in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit http://pressreleasewire.responsesource.com/about.