What accountants think of the Industrial Strategy’s PBS sector plan

We asked accountants in the regional hubs covered by the plans whether they could work.

The Government’s recent Industrial Strategy outlines ambitious plans for the professional and business services (PBS) sector in the UK. Its vision is of a thriving national PBS ecosystem that will not only support the rest of the economy but will also become the world’s most trusted advisor to global industry by 2035. It also sees the UK remaining the second-largest exporter of PBS globally.

A key part of the plan is to establish regional hubs that will be centres of national excellence for the sector. These will be sited in five high-potential city areas: Liverpool, Greater Manchester, West Yorkshire, the West Midlands, and the Edinburgh-Glasgow Central Belt. It’s hoped that these hubs will play an important role in wider regional development. 

The aims set out in the Professional and Business Services Sector Plan include: 

We asked accountants in the hub areas for their perspectives.

Genuinely encouraged by focus on developing digital and AI skills 

Adrian Hargreaves, Founding Partner, Everyday Accountants 

As an accountant based in Greater Manchester, I am genuinely encouraged by the government’s focus on professional and business services. There’s a huge appetite here for growth, innovation and cross-sector collaboration, and the business community is ambitious and forward-looking.   

The emphasis on digital transformation and AI skills is particularly welcome. Accountancy is already being reshaped by emerging technologies, whether through automation, real-time reporting or predictive analytics. For smaller firms like ours, the opportunity to access government-backed training and support through the hub could be a game changer. It means we can upskill our team and stay competitive in the fast-paced world we face today. 
 
Manchester has a strong talent pool, two world-class universities, and a culture of innovation. If the hub model delivers on its promise, it could strengthen the pipeline of digitally skilled professionals, improve collaboration across the PBS sector, and attract even more inward investment to the region. That will also benefit the wider Northwest economy. 
 
We also see real potential to grow our client base through the hub. As legal firms, consultants, engineers and other PBS businesses expand in the region, many will need agile, responsive accountancy partners who understand the fast-moving landscape. That is a space we are confident operating in and excited to grow further into. 
 
Of course, the influx of new firms into the area may increase competition. But competition is healthy. It drives innovation and standards. For us, the key is to stay close to our clients, continue investing in our people and tech, and focus on providing the kind of personal, expert service that larger firms can sometimes grapple with. 
 
Overall, we see Greater Manchester’s designation as a PBS hub not just as an opportunity, but as a clear signal that the region is central to the UK’s future economy. We fully support the government’s ambition and are ready to play our part in making it a success. 

Verdict: It will enable business to upskill and feed the culture of innovation in our region.

Good news for the sector, so long as the Government follows through

Vipul Sheth, Chartered Accountant and MD, Advancetrack 

The Government’s renewed focus on growing the professional and business services sector is a long-overdue step in the right direction. This is particularly true of the emphasis on digital skills and regional development through the new Industrial Strategy zones.  

As a tech-first business based in the West Midlands, we know first-hand how vital access to training, infrastructure and connectivity is for firms like ours, and for the wider ecosystem of accounting and advisory businesses supporting clients through rapid digital change. 

The focus on AI and digital enablement is especially timely. Our own Accounting Talent Index has shown that many firms and practices still lack a clear plan for adopting new technologies. If these hubs deliver on their promises and offer real, on-the-ground support to help smaller firms develop AI capability and digital resilience, they could play a transformative role in strengthening the sector’s future pipeline and helping firms move up the value chain. 

That said, we’ve been here before. The announcement contains some echoes of ‘levelling up’, an agenda that promised much but which ultimately delivered uneven, patchy results. You only need to look at the scrapping of the northern leg of HS2 to see how ambition hasn’t always been matched by results. These new plans must deliver tangible, long-term support, not just high-level rhetoric. The government must be held accountable to ensure that what’s promised in these zones translates into accessible, practical support for firms in places like the West Midlands and beyond. 

Done right, these new hubs could become catalysts for growth, collaboration, and innovation, particularly for accountancy firms looking to service the next wave of tech-enabled businesses and start-ups. We’ll be watching closely and hope to see real substance in the months ahead. 

Verdict: The plan is good news, provided the Government follows up with long-term, tangible support.

Caroline Roberts Journalist.