Tech and digital | Advanced manufacturing | Logistics and distribution | Retail
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%.