In the UK’s third most populated region, a traditional manufacturing core is increasingly joined by blooming finance and energy sectors. Our partnerships manager for the North West James Kelly looks at the overall picture – and how businesses can help the region’s people improve their financial wellness.
It is now the biggest regional contributor to the English economy outside of the South. The North West’s 3.7 million workers (based mainly in large settlements like Manchester, Liverpool and Warrington) accounted for 10% of the UK’s gross domestic product (GDP). (ONS, 2020)
Manufacturing, the region’s traditional key industry, remains a major employer in the region (10% of workers). This sector is now complemented by a bustling financial services sector, based mainly in and around Manchester and Liverpool.
Employers can play a huge role in how confident people in the region feel with their personal finances, such as pensions, saving and budgeting. The Money and Pensions Service (MaPS) is here to help. We are set up by the government to offer free, impartial money and pensions guidance, and support your organisation to improve financial wellbeing for your employees, customers and community.
Want to help employees manage their finances better? Embed our tools and calculators for free.