The London-Essex UK Finance Corridor is an essential extension of London’s world-leading Professional and Financial Services Sector cluster. Essex is located 20 minutes eastwards from the city of London.

The London-Essex UK Finance Corridor includes the main Essex Professional and Financial Services hubs of Brentwood, Chelmsford, Colchester, Basildon and Southend-on-Sea.

Fast and direct access to London provides Essex-based companies with an advantage that other out-of-London locations simply cannot match. Combined with a large-scale, skilled workforce and massive cost advantages, Essex is a compelling location for businesses across the professional and financial services sector.

What are financial services?

The financial services sector includes businesses working in banking, insurance, wealth management, asset management, foreign exchange and accounting. The sector also incorporates online financial services which are combined with technology, such as FinTech, Regtech, InsurTech and PayTech. These online services support the professional and financial services sector and are tailored to customers as they are more personalised. One Essex based company integrating Fintech, is Thames Card Technology.

Many professional and financial services companies are based in Essex. These companies include: James HallamVentrica, GFM Clear Comms, DST, Rickard Luckin, Birkett Long, Ellisons Solicitors, Metro Bank, and more.

London Essex UK Finance Corridor - Business Benefits (1.4 MB)

Variety of financial areas and functions

Essex is able to host a variety of companies that specialise across a range of business areas and functions. These are:

  • Back office and business process outsourcing
    Businesses in sub-sectors including banking, insurance and business process outsourcing (BPO), with operations including shared service and contact centres, benefit from a unique combination of fast access to London and a low-cost base.
  • Financial data centre operations
    Businesses benefit from high-speed data connectivity to London combined an affordable, highly skilled IT workforce.
  • Niche financial services businesses
    Businesses in sub-sectors including Wealth Management and FinTech benefit from highly desirable ‘out-of-city’ locations combining exclusivity, high concentrations of financial expertise and excellent connectivity to the City of London and global markets.
  • Professional services
    Essex is the location of choice for a diverse range of professional services companies in sub-sectors including accounting and legal services. Many of these businesses serve, or have links to, the financial services sector in the London area.
analysing financial data

A large-scale skilled workforce

Businesses locating in Essex can access the UK’s largest and most highly skilled financial and professional services workforce, combined with education provisions targeted at the sector’s specific needs. Essex has:

  • The 2nd highest concentration of finance workers and insurance workers in the EU with over 66,000 professionals.
  • A broad range of post-graduate study options at Essex Business School including specialist Masters courses in accounting, banking and finance, and management, entrepreneurship and marketing, as well as the Essex MBA
  • Specialist MSc courses at the University of Essex’s Centre for Computational Finance and Economic Agents (CCFEA) including computational finance, algorithmic trading and financial computing
  • Counties in the Top 10 cheapest commuter towns to & from London [CityAM]

Low business costs in Essex

Essex compares very favourably against other professional and financial services locations across the UK and Western Europe with 66,000 finance workers and insurance workers, lower labour costs and stable office rental costs. Essex offers short-term gains as well as real potential for significant long-term operational cost savings.

  • Prime office rents cheaper than South East London, Kent and East London vs the city of London and office rental costs savings vs major UK cities [Glenny Databook, 2018]
  • The Essex market is the primary source of units above 100,000 sq. ft. compared to East London, North London, Kent and Hertfordshire [Glenny Databook, 2018]
  • Wage cost savings vs the City of London and major UK regional (core) cities [ONS, 2015]
  • Wage cost savings for IT Finance positions vs ‘London and the M4 Corridor’

Research and technology

The University of Essex is a leader in the application of Big Data Analytics and advanced computing to the finance sector, enabling businesses based in or relocating to Essex to access world-class knowledge and research.

The University of Essex is home to:

  • The Centre for Computational Finance and Economic Agents (CCFEA)
  • The Institute for Analytics and Data Science (IADS, research strengths including data analytics for the finance sector)
  • The UK Data Archive and the UK Data Service

Read more about the University of Essex here

University of Essex Ivor Crewe lecture

Connect to London & worldwide

Amongst reduced-cost locations for the Professional and Financial Services sector, Essex delivers unrivalled transport and data connectivity to London and worldwide:

  • Just 30 minutes by train to the City of London from Essex centres (e.g. Brentwood, Chelmsford and Basildon)
  • Direct Crossrail connections to London Heathrow airport in just 1.12 hours from 2019.
  • Prestigious ‘out-of-city’ business locations offering direct access to the M25 London orbital motorway
  • London Stansted Airport is the UK’s 3rd largest airport, flying to over 200 destinations
  • Comprehensive global connectivity with 6 London airports within 1.15 hours drive time, including London Heathrow with flights to 180 destinations in 90 countries
  • Fast data connectivity to London, facilitating high-speed trading
  • Superfast broadband coverage over 30Mbps
London Essex connectivity

Contact:

Corinne Hearne

+44 (0) 7702 900667

With over 25 years’ experience in the Financial Services and Global Relocation industries, Corinne has developed an extensive, specialist, commercial network and has successfully supported projects focused on the strategic development and growth of both overseas and UK companies in business, professional and financial services sectors.