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Business and Professional Services Sector Review

 

Definition and scale of sector

  • Legal, accountancy,
  • Market research,
  • Management consultancy,
  • General business services,
  • Advertising,
  • General research

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Business and Professional Services - Business Enterprise - Cluster Action Plan Framework - October 2006

Professional services have become a vital source of knowledge and information for all branches of the economy that are of strategic importance for the competitiveness of the region. The principal client sector is manufacturing with other key client areas including public sector and financial services.

There are a significant number of professional service firms who concentrate on exclusive sectors enabling them to develop their expertise and offer those services to businesses throughout the UK and overseas. Whilst the West Midlands is clearly an important market for the region's professional service firms, their skills and expertise are also used by clients in the rest of the UK, Europe and worldwide. In fact, some five to ten percent of fee income is from the rest of Europe and worldwide.

Source: Advantage West Midlands

FOR THE FULL REPORT PLEASE CLICK HERE

 

 

Business in Britain - A survey of business opinions and trends - July 2006

Now in its fourteenth year, our latest Business in Britain survey of more than 2,200 companies offers an invaluable guide to the performance and expectations of UK companies.

The biannual report provides an early indication of developments over the next six months of the year, often leading trends, which are subsequently picked up by official statistics.

Source: Lloyds TSB

FOR THE FULL REPORT PLEASE CLICK HERE

 

Professional Services Review - June 2006

The number of firms registered in the sector rose to 147,070 last year, according to department of Trade and Industry (DTI) VAT registration date. While the capacity of the corporate professionals sector continues to expand, the rate of net new firm formation has steadily since 1998 (a brief upturn in 2003 notwithstanding). Indeed, the 4.4% growth in net new firm formation achieved during 2004-05 was the slowest rate of growth recorded in the sector since 1994-05. Nevertheless, the rate of capacity expansion remains relatively high compared to sectors such as architectural services.

Source: Barclays Bank

FOR THE FULL REPORT PLEASE CLICK HERE

 

Retail Financial Services Monitor - May 2006

The prospect of increasing regulatory intervention currently poses greater concerns for retail financial institutions than either the economy or the market. With low and stable interests rates, low unemployment, and good job prospects particularly in services in the South East, consumers are feeling confident and this is reflected in their behaviour with respect to financial services and the overall prospects of the market. Recent concerns about growing levels of consumer debt - and accompanying relatively high percentage increases in impairment charges - appear to us to be overdone, and whilst unfortunate for some individuals, do not portend any institutional, far less systemic risk.

Source: Ernst and Young

FOR THE FULL REPORT PLEASE CLICK HERE

 

Business Services and logistic review - April 2006

UK economic growth slipped to a 13-year low last year. GDP increased by just 1.8% in 2005 - barely half the 3.2% growth rate recorded during 2004 and below the long-term trend rate (around 2.5%). The slowdown was driven by weaker spending by UK consumers who, after a prolonged period of relatively strong spending growth, began to tighten their belts in the face of high household debt levels, higher debt servicing costs, the impact of the slowdown in the housing market, higher effective tax rates and weaker growth in real disposable incomes.

Source: Barclays Bank

FOR THE FULL REPORT PLEASE CLICK HERE

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Regions

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Indian News, Pakistan News, Sri Lanka News, Bangladesh News

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Pakistan:Pakistan welcomes IMF $6.7bn lifeline


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Bangladesh:GDP growth rises to 6.18pc, per capita income $ 1044 

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