UK government sets out new strategy to boost the professional services industry

The government and Professional Business Services Council have worked together in order to produce a set of guidelines that would help the UK strengthen its position in the professional and business services (PBS) sector. This strategy is actually very important, since the sector employs four million people in the UK and is worth more than £150bn to the economy.

According to a news report on this matter, the strategy identifies priorities such as a diverse highly skilled workforce and increasing exports to emerging markets to ensure the future growth of the industry.

New measures planned include the creation of a new network of senior business envoys to champion UK capabilities and trade opportunities when overseas, trade missions to be arranged by UK Trade & Investment specifically for the sector, and trebling the number of apprenticeships available to businesses such as law firms, accountants, consultants and marketing companies to 10,000 a year.

Business secretary Vince Cable said: “The professional and business services sector has been growing at four per cent for the last decade and we need to ensure this growth is sustained in the long-term. The government will provide support to make sure the sector has the skilled people it needs so that we can keep this success story going.”

“Despite challenging times, exports in professional and business services have more than doubled over the past decade. I want our top executives to think British in all their overseas business, particularly in emerging markets where a growing middle-class is demanding higher-quality services.”

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