PROFESSIONAL AND BUSINESS SERVICES - The Modern Industrial Strategy outlines the government’s intention for the professional and business services sector to double business investment to £65bn, supporting growth and innovation. - This sector includes key industries such as accountancy, audit and tax services, management consultancy and legal services. - The Modern Industrial Strategy further highlights a commitment to improve business mobility, making it easier for British professionals to move temporarily between the UK, EU and other international partners to meet short-term business needs and deliver services to clients. This builds on new dialogues on mobility and the recognition of professional qualifications announced at the May 2025 UK-EU Summit. This is welcome news in our commitment to an International North East for a stronger, fairer North East and our role as a Chamber in facilitating international trade to drive economic growth. - Targeted regulatory changes will be made, including clarifying Anti-Money Laundering and Know Your Customer requirements, to better support the financial services and professional and business services sectors. - The Made Smarter programme will be piloted for professional and business services across the North of England. Made Smarter provides guidance, skills development and match-funded grants to help businesses adopt new technologies. While details for the North East are not yet clear, this would be welcome, as many SMEs face challenges in implementing new technologies due to time and resource constraints. - There will be a focus on increasing technology adoption and innovation within the sector, especially through advancements in AI, showing a joined-up approach to supporting digital transformation. - Developing a skilled workforce remains a priority, with plans to boost staff training and reskilling in areas such as net zero, digital technologies and cybersecurity. This aligns with insights from our Local Skills Improvement Plans (LSIPs), which highlight the sector’s readiness to embrace new technologies and upskill staff.
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