PracticeAccounting FirmsSupercities must form firms’ thinking

Supercities must form firms' thinking

Business advisors must consider how to help burgeoning industries operating from hubs

IF THE BUSINESS map’s being re-shaped, are you in good enough shape to keep up?

I ask you this question having read a fascinating piece about HSBC/The Future Laboratory research in the FT today.

The research flags up emerging industries driven by technological innovation, that are in effect creating hubs, or supercities, devoted to particular specialisms.

For instance, plastronics (something to do with microchip manufacturing apparently) hubs are emerging in Durham, Cambridge, Swansea and London.

Sunderland and Norwich are big on low-carbon transport, it finds.

From the business advisor angle, I wonder if these burgeoning industries – full of start-ups and grand ideas – require ‘specialist’ advice?

Does a Norwich-based accountancy practice have the wherewithal to help a low-carbon transport business grow? Are new-industry small businesses any different to handle for an advisor than, say, a startup widget manufacturer?

I don’t pretend to have the answer, if there is a single answer, but I believe that these new industries will have their own idiosyncrasies and specialist requirements.

It will be fascinating to see whether these new hubs will lead to the creation of new, specialist practices, or provide growth/re-focus for existing firms.

I’d really welcome any thoughts on this, please send a comment through, or send a tweet to @goonerreed

Related Articles

Top 50+50: Big Four hold steady, shake-up outside Top 20

Accounting Firms Top 50+50: Big Four hold steady, shake-up outside Top 20

2m Emma Smith, Managing Editor
Top 50+50: Revenue rises spark rankings shake-up

Accounting Firms Top 50+50: Revenue rises spark rankings shake-up

2m Emma Smith, Managing Editor
Better together: Accountants, advisers and business protection for SME clients

Accounting Firms Better together: Accountants, advisers and business protection for SME clients

10m Emma Smith, Managing Editor
New boss and office on the south coast for Smith & Williamson

Accounting Firms New boss and office on the south coast for Smith & Williamson

1y Kevin Reed, Writer
Wilkins Kennedy joins Allinial Global but reaffirms IAPA relationship

Accounting Firms Wilkins Kennedy joins Allinial Global but reaffirms IAPA relationship

1y Stephanie Wix, Writer
Friday Afternoon Live: Xero's 'code of conduct'; British Accountancy Awards; and Top 50+50

Accounting Firms Friday Afternoon Live: Xero's 'code of conduct'; British Accountancy Awards; and Top 50+50

1y Kevin Reed, Writer
Cowgill Holloway concludes sale of film distributor Metrodome

Accounting Firms Cowgill Holloway concludes sale of film distributor Metrodome

1y Richard Crump, Writer
Jeffreys Henry promotes Justin Randall to managing partner

Accounting Firms Jeffreys Henry promotes Justin Randall to managing partner

1y Richard Crump, Writer