The UK is a global centre for professional services as well as a global financial centre – and the two are closely connected. Having access to high-quality and specialised legal activities, management consulting and accounting services is crucial for business success.
This factsheet illustrates the quality and scale of professional services in the UK. It is not without good reason that five of the world’s top 15 law firms have their main base of operations in the UK.
Professional services are also a significant driver of the UK economy, contributing £75bn to the UK's economy in 2018.
The Big Four, the biggest networks of professional services firms worldwide, all have a big presence in the UK and London – with around 65,000 employees across the country.
English common law is by far the most popular choice for cross-border contracts – 48% of commercial law practitioners surveyed identified it as their preferred choice.
UK professional services are fast-growing markets with growth rates of 7% and over in 2019-20.