North East England has an unrivalled investment offer for FPBS companies.
Nearly 19,000 firms have already taken advantage of our highly skilled workforce, low cost base, top quality office space, growing cluster strength, academic collaboration and extensive financial support.
The number of FPBS companies grew in our region by nearly 33% between 2011 and 2015 (source: Office for National Statistics).
North East England has particular strengths in business process outsourcing, back and middle offices, financial, tax and advisory services, financial technology, legal services and contact centres.
Banking giants Barclays, Santander and Tesco Bank all operate hugely successful contact centre operations in our region, as does mobile phone network provider EE.
They are just four of the 145 contact centres employing over 40,000 people for global companies based in our region.
North East England is one of the most cost competitive locations in Europe to hire FPBS staff; yet the education, training and staff care are exceptional, and the quality and standard of living remains one of the highest in the UK. This work/life balance results in unparalleled staff loyalty to the company and to the region.
Nick Wilson, MD of HP sums it up:
“The main reason we come to the North East is to access the skills and work ethic…”
The typical cost saving is 14% compared to London for a customer services representative and 2 to 3% compared to Scotland and Cardiff.
Our burgeoning financial services sector contributes just over £2bn to the regional economy and employs more than 28,000 people, while the North East is recognised by industry experts as one of the top start-up clusters in the UK, outside of London, in financial technology.
Staff work in bespoke Grade A office accommodation at numerous specialist properties in our city centres and business parks across the North East aimed at FPBS companies.
These include Cobalt Park – the largest office park in the UK – offering huge cost savings compared to other parts of the country – while some of our other sites offer Enterprise Zone benefits for investors.
All have superb infrastructure links to the main A1 and A19 roads as well as to Newcastle International Airport.
Many sites are linked to the Tyne and Wear Metro, the largest rapid transit system outside London, helping ensure that skilled workers have easy access to their workplaces. This contributes to the region having the second lowest commute times in the UK.
Investors are able to draw on a highly skilled, motivated talent pool for their workforce.
The North East has some of the lowest worker attrition rates in the UK. This provides companies with the confidence to recruit, train and retain their most valuable asset – their workforce.
Our five universities and 15 further education colleges have 290 courses specifically aimed at the FPBS sector.
Legal services in the North East continue to go from strength to strength, employing around 13,000 people and worth £700m annually to our regional economy.
There is an extensive business support network across North East England providing access to information, advice, and finance all geared to enabling company growth.