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Oxford Economic report sets out the economic contribution of the business services sector

02 February 2015

The BSA has published a report - commissioned from Oxford Economics - setting out the economic contribution of the business services sector to the UK economy, at the national, regional, and constituency level

The sector is made up of five categories – FM, Business Process Outsourcing, IT and digital services, construction services and front-line outsourced public services which accurately reflect the business services sector.

The sector is a major contributor to the UK economy:

• Accounting for 8.7% of output (£263bn pa)
• Similar in output to the financial services sector
• Contributes £33.5 billion in the 5 main taxes (10.5% of all revenues from these sources)

The sector is a significant job creator:

• 3.3 million people are employed, 10.2% of all UK jobs
• Employs more people than manufacturing
• Employment is evenly spread across the country -  between 8.25% and 11.75% of people in each UK region work in the sector

In every constituency in the country the sector drives investment, job creation, and delivers essential services to the private and public sectors. Two thirds of business services is business-to-business - driving the economy forward.

Mark Fox, Chief Executive of the BSA, said: “We welcome this piece of research highlighting the contribution the business services sector makes to the UK economy, as both a significant employer and provider of key services.”

The full report can be found on the BSA website – www.bsa-org.com


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