Proximity to London is both a blessing and a curse for businesses in Birmingham’s financial and professional services cluster, reputedly England’s largest outside the capital. The short train journey that allows Birmingham bankers, accountants and lawyers to service southern clients is also a boon to London rivals seeking Midlands work.
Ronnie Bowker, head of the Birmingham office of accountants Ernst & Young, is sanguine about this trade-off, saying: “In the current tough environment, local businesses are getting good advice here without paying London rates. If they need additional support from London offices, then they will ask for it.”
