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Oxford Economic report sets out the economic contribution of the business services sector
The Business Services Association published a report yesterday - commissioned from Oxford Economics - setting out the economic contribution of the business services sector to the UK economy, at national, regional and constituency level.
The sector is made up of five categories - Facilities Management, Business Process Outsourcing, IT and digital services, construction services and front-line outsourced public services which accurately reflect the business services sector.
The sector is a major contributor to the UK economy that:
* Accounts for 8.7% of output (£263bn pa)
* Contributes £33.5 billion in the 5 main taxes (10.5% of all revenues from these sources)
The sector is a significant job creator:
* Employing 3.3 million people - 10.2% of all UK jobs
* Employing more people than manufacturing
* Employment is evenly spread across the country - between 8.25% and 11.75% of people in each UK region work in the sector
The number of jobs directly dependent on cleaning and related activities in the business services sector is put at some 367,000 with an annual turnover of £7.4 billion in the UK.
In every constituency in the country the sector drives investment, job creation, and delivers essential services to the private and public sectors. Two thirds of business services is business-to-business - driving the economy forward.
Mark Fox, Chief Executive of the BSA, said of the report:
"We welcome this piece of research highlighting the contribution the business services sector makes to the UK economy, as both a significant employer and provider of key services."
The full report can be found on the BSA website.
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5th February 2015