Hosted at ICAEW’s Chartered Accountants’ Hall, the Professional and Business Services Council (PBSC) met with the government to hold discussions focused on innovation, skills development and enhancing the UK’s global competitiveness, marking a pivotal moment for aligning the professional and business services (PBS) sector with the new government’s strategic goals.

Iain Wright, Managing Director of Reputation and Influence at ICAEW, chaired the meeting in his new role as industry co-chair of the PBSC.

“There was plenty on the agenda at our first meeting with the new government,” Wright noted. “We focused on mission-based economic policy, an investment summit to attract capital and jobs, and an industrial strategy prioritising professional and business services.”

Wright’s comments underscored the Council’s alignment with the government’s Industrial Strategy, which seeks to foster growth, improve productivity and encourage innovation within the sector.

Leading the way

Reflecting on his appointment, Wright stated: “It’s a huge honour to serve as industry co-chair of the PBSC with Gareth Thomas MP as government co-chair. I have big shoes to fill, following the excellent leadership of Nick Owen CBE, Alan Belfield and Sally Jones. 

“However, the task is made easier thanks to the insightful senior business leaders on the PBSC and the outstanding officials from the Department for Business and Trade (DBT).”

This collaboration highlights the PBS sector’s vital role in the UK economy. The DBT, through its PBS sector team, supports PBS firms, ensuring the UK remains a global hub for professional and business services, and encompasses a range of knowledge-intensive functions, from legal and accounting to human resources and engineering.

The DBT’s PBS team is dedicated to supporting the UK’s PBS sector by collaborating with trade associations, professional bodies and businesses to create an environment conducive to growth. 

This effort is reinforced by PBSC working groups that focus on skills development, inclusion, environmental sustainability and international trade promotion. These groups play a crucial role in shaping policies that address the sector’s evolving needs and maintain its competitive edge.

“Over the next few months, we will work intensively to create an ambitious sector plan that focuses on growth, productivity, innovation and fully leveraging the UK’s strengths,” explained Wright.