Financial and Professional Services Sector
The North West of England has the largest financial and professional services sector in the UK outside of London, with a turnover of £32.8 billion employing nearly 400,000 people. Manchester is the UK's Northern hub in banking, insurance, law, accountancy and management consultancy. Liverpool is home to a thriving business and professional services community with specialist areas in maritime insurance and wealth management. Strengths also exist in the North West in other sub-sectors including employment services, and office services and supplies.
Opportunities for international trade exist for all of these sub-sectors. Overseas governments and private companies can benefit from the UK’s long experience and lessons learnt. Management consultancy is one of the fastest growing sectors. Work by UK based consulting firms for clients based overseas has more than doubled in recent years, and continues to offer excellent opportunities.
UKTI has identified priority markets in outsourcing, legal services, audit services, taxation services and Public Private Partnerships.
Strengths developed over centuries underpin the UK services industry. Many service sector companies in the North West have the competitive edge in terms of people, position, and policies whilst offering their services to overseas clients at lower costs than similar companies based elsewhere in the UK.
Many overseas markets offer high potential to North West companies operating in the service sector, most notably the Gulf, Central European markets, India, China and USA.
A bespoke service is available from UKTI, working closely with local partner organisations within the service sector, to help companies initiate and develop overseas trade.
For further information, please contact the International Trade Team.