PBS is one of the most important sectors in Liverpool City Region. A new business review ‘Professional & Business Services in Liverpool City Region Baseline Report & Strategic Priorities’ has highlighted growth across Liverpool City Region’s Professional and Business Services (PBS) Sector. 0 people employed 0 GVA 0 new jobs over 20 years With 6.2 million people within a one-hour drive, a large commuter population of 475,900 people in higher skilled occupations and 20,000 students studying related courses; Liverpool City Region’s Professional & Business Services sector has both market proximity and a strong talent pool. This is reflected in the 41% growth in PBS businesses between 2010-17, compared to 23.5% across all sectors (ONS 2017). It supports an estimated 107,000 jobs in 12,000 companies and generates more than £8billion per annum in gross value added (GVA) – making it the largest sector in terms of GVA. The City Region has a number of specialisms within PBS, notably in wealth management and maritime. Research has shown that the maritime sector is 4.5 times more concentrated in the City Region than the national average. With proximity to the Isle of Man and recognised as a Financial Centre of Excellence by the UK Government; Liverpool City Region has the second largest wealth management industry in the UK. We have close links to the City of London and boast a depth of expertise with a focus on developing long term client relationships and investing in our workforce. Furthermore, the vibrant energy of the City Region creates a friendly and entrepreneurial spirit which fosters a unique environment for business growth. Around 20,000 jobs are forecast to be created in the PBS sector in Liverpool City Region over the next 20 years and our focus is on employment growth in sectors that have higher levels of productivity. To do this we need to improve talent retention from our universities by better co-ordination between businesses and the universities and focusing on skills development in the current PBS workforce. The sector has a broad range of companies based in the City Region including Pershing BNY Mellon, TATA Consultancy Services, EY, Grant Thornton, PwC, KMPG, Royal Sun Alliance, Rathbones, Griffiths and Armour, DLA Piper, Weightmans, Santander, Deutsche Bank, Lloyds, Barclays and NatWest. Our universities educate 20,000 students on professional and business services related courses providing an excellent talent pool to grow your business. The Professional & Business Services Board drives the sector strategy and relies on private sector participation to ensure we are addressing industry needs, future proofing skills requirements and creating a long-term plan for the business community. Current Chair is Steve Stuart who practised corporate finance in Liverpool and beyond for the past 30 years. We work closely with Professional Liverpool, which is the body set up to promote professional excellence in Liverpool and the surrounding region, thus maintaining and enhancing Liverpool’s reputation as a financial centre. The Local Growth Hub provides access to a wide range of information, advice and support available for SMEs.
