As one of the UK Government’s eight IS-8 priority sectors under the Modern Industrial Strategy 2025 and Invest 2035, the Professional & Business Services sector forms the backbone of the UK economy, enabling growth, innovation, and operational excellence across every other industry.
This sector provides critical support functions, from legal and accounting to management consultancy, research, and business operations, helping organisations scale efficiently, manage risks, and navigate global markets.
What Are Professional & Business Services?
The Professional & Business Services sector comprises firms that offer specialist advice, consultancy, and operational support to other businesses. It includes services such as legal representation, tax and audit, management consultancy, architectural design, engineering, advertising, and office administration.
These services ensure that businesses across sectors, from manufacturing to technology, can focus on innovation and growth while relying on expert partners to handle complex business functions.
Why Professional & Business Services Matter to the UK Economy
The Professional & Business Services sector contributes over £250 billion annually to the UK economy and employs millions across a wide range of professions. It’s a cornerstone of productivity, trade, and innovation.
The sector drives:
- Business Competitiveness: Providing advisory and technical expertise to help companies scale efficiently.
- Innovation and Research: Encouraging digital transformation, data-driven insights, and management innovation.
- Export Growth: Delivering world-class legal, accounting, and consulting services to international clients.
- Employment and Skills: Offering high-value, knowledge-based jobs across the UK.
- Regional Development: Supporting clusters of professional excellence in London, Manchester, Birmingham, and Edinburgh.
The sector’s diversity and global reach make it one of the UK’s strongest competitive advantages in a service-driven economy.
Frontier Industries within the Professional & Business Services Sector
The Professional & Business Services sector is made up of several frontier industries that represent its core specialisations:
| Frontier Industry | Description |
| Accounting, Audit, and Tax Consultancy | Provides financial reporting, auditing, and tax advisory services, ensuring business compliance and transparency. |
| Legal Services | Offers legal representation, dispute resolution, contract preparation, and corporate advisory support. |
| Management Consultancy | Delivers expert advice on business strategy, operations, finance, and organisational improvement. |
| Scientific Research & Development | Drives innovation and technology transfer through applied research and development activities. |
| Architectural & Engineering Services | Contributes to the design, safety, and sustainability of the built environment. |
| Advertising & Market Research | Supports brand building, consumer insights, and digital marketing innovation. |
| Employment & Office Support Services | Provides workforce management, recruitment, and administrative support essential to modern businesses. |
Comprehensive SIC Codes for Professional & Business Services
Below are the key Standard Industrial Classification (SIC) codes that define activities within the sector:
| SIC Code | Description |
| 69 | Legal and accounting activities |
| 70 | Activities of head offices; management consultancy activities |
| 71 | Architectural and engineering activities; technical testing and analysis |
| 72 | Scientific research and development |
| 73 | Advertising and market research |
| 74 | Other professional, scientific, and technical activities |
| 77 | Rental and leasing activities |
| 78 | Employment activities |
| 82 | Office administrative, office support, and other business support activities |
| 692 | Accounting, bookkeeping, and auditing activities; tax consultancy |
| 691 | Legal activities |
| 702 | Management consultancy activities |
Top UK Professional & Business Services Companies by Turnover
Here are some of the leading companies representing the strength and diversity of the UK’s Professional & Business Services sector:
1. Shell PLC
Incorporated: 2002
Location: London
Latest Turnover: £217.8b
One of the world’s largest energy companies, Shell operates across oil, gas, and renewable energy sectors, driving innovation in sustainable energy and reducing global carbon emissions.
2. JPMorgan Chase Bank, National Association
Incorporated: 1960
Location: London
Latest Turnover: £161.7b
Provides global banking, investment, and asset management services. The bank’s London operations serve as a key European hub for corporate and institutional clients.
3. BP P.L.C.
Incorporated: 1909
Location: London
Latest Turnover: £142.6b
A global energy company focused on oil, gas, and the transition to cleaner energy solutions, BP continues to invest heavily in renewables and sustainability-driven initiatives.
4. HSBC Holdings PLC
Incorporated: 1959
Location: London
Latest Turnover: £99.5b
One of the world’s largest banking groups, HSBC, provides comprehensive financial services, including retail, commercial, and investment banking, to millions of customers worldwide.
5. Unilever PLC
Incorporated: 1894
Location: North West
Latest Turnover: £51.1b
A global leader in consumer goods, Unilever’s portfolio spans food, personal care, and household brands, with a strong focus on sustainability and responsible sourcing.
6. Rio Tinto PLC
Incorporated: 1962
Location: London
Latest Turnover: £41.3b
A multinational mining and metals corporation, Rio Tinto focuses on the exploration and production of essential materials, including aluminium, copper, and iron ore.
7. Compass Group PLC
Incorporated: 2000
Location: South East
Latest Turnover: £33.9b
A leading global provider of food and support services, Compass Group operates across multiple industries, including healthcare, education, and business & industry.
Conclusion
The Professional & business Services sector is at the heart of the UK’s Industrial Strategy 2025, powering innovation, governance, and efficiency across every major industry. By combining expertise in law, finance, consultancy, and research, this sector not only supports sustainable economic growth but also reinforces the UK’s reputation as a global hub for high-value professional excellence.