Professional services in Birmingham suffer from poor management
Professional service firms in Birmingham could be facing crisis as a report revealed that growth in the sector is stalling because of poor management.
According to the research, accountancy, lawyers and business advisers are set to to overtake manufacturing in its share of the city’s gross domestic product.
But there are warnings that without growth these services will be supplied by providers outside the city which will rob Birmingham of much needed jobs and income.
Brian Woods-Scawen, regional chairman of PwC speaking in the FT, said: ‘We can only transform the base of wealth creation in this region if we plan and train for the growth to come…if we don’t tackle the situation now, these markets will be served from othr regions and the jobs will be created elsewhere.’
The report by Birmingham Forward and Birmingham and Solihull Training and Enterprise Council, shows that among 360 financial and advisery businesses surveyed more than a third had no business plan. Half had no formal approach to dealing with staffing issues and more than 40% had no training plan.