Martin Atkins – Business Services Expert
The UK’s business services sector is a global success story, covering accountancy, legal, architecture, marketing, recruitment and management consultancy services. Our share of exports to OECD economies is 12%, second only to the US and the sector has grown by over 50% in value since 2000 to over £180 billion. Business services accounts for 33% of total UK businesses, 22% of employment and 16% of turnover.
“In a world where routine services are increasingly being outsourced to low-cost providers, or being automated, service sector businesses need to adapt and look for ways to drive value across their organisation. To achieve growth, they must focus on quality while improving efficiency and investing in a people strategy.”
Can incremental productivity gains deliver lasting value?
Most people already know that UK productivity is not as strong as it should be, but do you understand why it matters and what you can do about it?
In our latests business services insights report, we explore why and how business owners can boost productivity within their own operations.
Business Service Sector: Key challenges and advice services
We advise lawyers, barristers, accountants, marketing, advertising and recruitment practices, as well as sector-dependent clients. We work closely to find solutions to industry issues, utilising our expertise in everything from business strategy and corporate finance, to audit and tax advice.
Our key sector focuses
Menzies legal team can very much cover off all compliance requirements for legal practices but it is our strategic advice focusing on profit improvement and ensuring that each firm is managing all aspects of their practice efficiently that drives us. Working with the practice leaders on all areas of their business and drilling down into department performance will result in a successful practice, meeting short- and long-term aspirations, using our expertise in this legal sector.
We advise companies throughout the Financial Services sector, including insurance brokers and fund managers, working closely with you to understand your business. We utilise our knowledge, experience and understanding of the sector to provide recommendations in all areas; from business strategy and corporate finance, to audit and tax advice, and everything in between.
The UK recruitment sector has demonstrated resilience in recent years, and plays a vital role in the growth of the UK economy. However, recruitment businesses will always be one of the first to experience the impact of changes in global business confidence. Mitigating this risk and protecting business value, remains a key challenge for the recruitment industry.
At Menzies we are seeing the evolution of new business models, the creation of additional income streams and international investment as ways to reduce risk inherent within the sector.
Competition has become fierce across the businesses services sector, as virtual working means that many firms can and have expanded their geographic reach.
Over the past 10 years there has been a growth in exits, mergers and take-overs, as firms seek critical mass in a sector or territory. This is likely to continue.
Brighter Thinking for Law Firms
Written by Menzies Partner and Legal Services expert Peter Noyce, ‘Brighter Thinking for Law Firms’ is a one-stop practical guide for the forward-thinking law firm – from the hot topics of the moment to the challenges to overcome – all you need to know, from those in the know.
While it may not be everyone’s ideal example of bedtime reading if you are the leader of a law firm this book is pure gold.
Compiled and co-authored by Peter Noyce, partner and professional services specialist at accountancy firm, Menzies LLP, each chapter of Brighter Thinking for Law Firms delivers valuable insights from real experts in their field. The book includes everything from instilling efficient financial practices to people solutions, thinking internationally and preparing for the legal services marketplace of the future.
If you are running or helping to run a law firm, this book should be part of your management toolkit.
Supporting the more for more business services culture
The customer mantra ‘we want more for less’ seems to crop up with remarkable regularity when discussing budgets and plans for the year ahead.
In this business services sector white paper, we explore the contribution that small and medium-sized business services firms make to the UK economy and how to achieve growth even in uncertain economic times.
Instead of giving into such cost pressures, however, most forward-looking business services firms realise that the key to growth is convincing customers that they are worth ‘more for more’ – but how should they go about it?