Sheffield has a vibrant, growing financial and professional service sector and is home to some significant strategic operations which serve regional, national and international markets. Over 437,000 people (45.7%) are employed in the private service sector, with 119,500 people employed in the financial and business service sectors including; law, accountancy, insurance, pensions, and financial services (banking, personal finance, corporate finance).
Financial and professional services companies are attracted to the commercial benefits of:
- a large labour pool (close to 2.1 million people, 1.4 million of working age)
- over 58,000 students at 2 business orientated universities with major strengths in law, business studies, modern languages, finance and IT
- highly competitive labour costs against regional and national averages, with 10% labour turnover rates on average the lowest in the UK
- a good supply of affordable Grade A office accommodation with occupancy costs at 40% below London
- and an excellent quality of life.
Examples of employers who have chosen to locate in the city are; Aviva, DLA, PWC, Irwin Mitchell have their headquarters in Sheffield, Grant Thornton, HSBC have numerous operations, and Close Credit Management.
"Sheffield is a great place in which to live and work. There is a strong entrepreneurial spirit, fuelled by a "can do" attitude. This is demonstrated by the many Sheffield businesses proving to be resilient in difficult times and positioning themselves well for a good future. Graduates from local universities want to stay and work in the City, with over half of PricewaterhouseCoopers Sheffield's graduate intake this year coming from local universities. It is a vibrant and green City with the magnificent Peak District on its doorstep."
John Cowling, Senior Partner, PricewaterhouseCoopers Sheffield
“As a firm of accountants, PKF needs to be able to recruit both graduates and school leavers with the right skill sets and qualifications to move into a professional career. Sheffield benefits from an excellent labour pool. We have no problem recruiting in Sheffield and enjoy very high levels of work ethic amongst staff. The two major universities assist in developing and retaining talent from elsewhere in the country and overseas, the graduate retention rates speak volumes for the city.”
Chris Humphreys, Managing Partner, PKF (UK) LLP
“Irwin Mitchell is one of the leading law firms in the country. Our first office was in Sheffield and remains our Head Office today. We are one of the biggest employers in the city with 1,200 staff, and I am pleased to say, even in the current marketplace, we are still growing."
"The Sheffield city region is a good place to do business. Now there is a strong and growing professional services industry with some of the best facilities in the country, including two high profile and well recognised universities supplying us with a credible talent pool. Sheffield is also home to several world leading organisations such as Cadbury's, HSBC, Boeing, Rolls Royce and Forgemasters. The increasing diversity of the Sheffield economy should stand the city in good stead as we move forward in the coming years.”
John Pickering, Managing Partner of Irwin Mitchell
For further tailored information on financial and professional services in Sheffield and support for your project please contact:
Ann Allen, Investment Manager, +44 (0)114 223 2367