The Business Services Association (http://www.bsa-org.com/) has released details of a report prepared by Oxford Economics relating to the outsourced services sector in both the public and private sector. It is reported that the outsourced services sector in the UK now has an annual value of £207bn, equating to approx. 8% of the UK economy.
Defined as being services provided under a time bound agreement, with some element of delegated authority and which typically in the past would have been provided by an organisation's employed staff, the outsourced services sector now rivals the financial services sector in terms of size (the financial services equates to 8.1% of the UK economy).
The range of services falling into this category is vast and includes waste management, call centre operations, IT and data services, facilities management services and real estate and asset management provision. The sector accounts for 10% of the total workforce, with in excess of 3 million people employed in the sector, nearly 600,000 engaged in property management related activities including cleaning and maintenance alone.
The sector makes a significant contribution to UK plc with £14bn a year being paid in corporation tax, employee NI contributions and business rates with a further £21bn coming from employee income tax and NI.
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