FINDS data supports FCA research into regional economic growth
Financial data accessed through SDR UK’s Financial Data Service (FINDS) has been used in a new study for the Financial Conduct Authority, exploring whether stronger financial services hubs outside London could boost regional economic growth.
The research, carried out by The Productivity Institute and published this week used firm-level small and medium enterprise data including Sage Performance Pulse data via FINDS, to see how proximity to financial hubs affects business performance across every UK local authority.
This is the kind of research SDR UK exists to enable: giving researchers access to detailed, real-world smart data to answer questions with genuine policy relevance.
The findings show that financial services activity in the UK is unusually concentrated compared with other countries. The benefits of being close to a hub for better access to finance and stronger local investment networks fall away sharply the further a business is from a hub, especially London. Comparisons with Europe, where mid-sized cities often have thriving local financial sectors, suggest a more distributed model could support regional growth without necessarily undermining London’s role.
