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Leeds is Leading the Way for Financial Services

 

Leeds has one of the largest economies in the UK, and this booming city is leading the way for financial services, not just for the country but overseas too. The Leeds City Region economy is larger than that of nine European countries, and financial services play a major role in this. Its reputation for excellence as a place to do business is cemented by a number of factors, especially its high number of financial firms and professionals.

Outside of London, Leeds is the largest financial and business services centre in the UK, with over 124,000 people employed in this sector. From financial technology firms to huge international banks, Leeds’ reputation for excellence in the financial services sector continues to draw companies and individuals to this thriving city. The Leeds City Region has a workforce of almost 2 million, and it has one of the lowest unemployment rates in the country. Leeds has seen a dramatic increase in job growth too with 6.1% growth in private sector jobs recorded from 2014 to 2015. This is another reason why many young professionals are choosing to move to Leeds, the growth in jobs and the increasing number of businesses opening there mean that there are more opportunities available here than other UK cities.

The size and scale of Leeds City Region means that it has a huge, highly skilled labour force and an impressive productivity rate. Leeds also has a multitude of higher education institutions – the largest university cluster outside of London. The nine higher education institutions in Leeds also offer specialised courses and qualifications meaning those hoping to excel in the financial sector are more likely to choose Leeds to study. This has led to an impressive number of graduates in these fields choosing to stay and work in Leeds.The variety and diversity of jobs available in Leeds have made it a truly desirable location for young professionals looking to start their career. This new, affluent workforce are often looking for rental accommodation in Leeds but want high quality and luxurious accommodation. RW Invest can provide stunning Leeds apartments at reasonable prices for investors looking to capitalise on this new, lucrative market.

There are over 200 accountancy firms in Leeds and almost as many legal firms. The city is also home to more than 30 national and international banks. These flourishing businesses produce the largest GVA contribution in financial and professional services in the UK outside of London. Leeds also has particular strengths in banking, legal services, insurance, and financial technologies. The highly productive and diverse workforce available in Leeds is also a huge draw to business owners looking to expand.

A number of leading global companies have decided to open additional offices or base their operations in Leeds. It A wide variety of businesses have chosen Leeds, from international banks, like HSBC which chose Leeds to launch the UK’s first telephone banking system, to global fashion Brands like Burberry which chose Leeds due to its attractive talent pool. Leeds was also voted the most value for money for office space in Europe in both 2008 and 2009. The combination of affordable running costs and strong financial infrastructure have all contributed to Leeds glowing reputation as the second financial sector in the UK.

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