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Business, professional and financial services

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The financial, professional and business services sector is growing, with 240 FPBS companies in Gateshead. The sector generates around 25% of the region’s wealth, with a strong presence of international law firms, accountants, management consultants and marketing services. 

Knowledge intensive businesses – including professional services, contact centres and shared service centres – critically underpin and enable other industries to complete in a global market. 

The rate of growth within contact centres is forecast to outpace that for the UK as a whole. Employers, such as Teleperformance and Worldpay, are employing a significant proportion of their workforce in the region. 

Distinctive attributes make Gateshead an attractive location for business services activity, including: 

  • low turnover of staff and low rates of absenteeism
  • staff flexibility and adaptability
  • short commuting times across the region
  • highly skilled workforce with multi-lingual capabilities
  • less competitive business environment allowing quick and sustainable scale-up 

The region’s four world-leading universities provide the area with a fresh pool of talent with over 112,000 students, including almost 20,000 international students.

There are 15,440 students studying business and administration with 11% specifically undertaking finance and accounting degrees. The north east boasts the UK’s 3rd highest graduate retention rate at 59%.