Fife, located in the heart of Scotland, boasts a thriving financial and business services sector. With a rich history dating back to the establishment of The Fife Banking Company in 1802, Fife has evolved into a modern hub for Business Process Outsourcing (BPO) and Shared Services.
Fife’s shared services centres are a cornerstone of the local economy, employing nearly 5,000 people and contributing approximately £500 million annually. The presence of major companies such as Ingenico Group and Paysend highlights Fife’s appeal to significant industry players. Additionally, innovative local companies like Singula Decisions add to the dynamic business environment, fostering a culture of creativity and growth.
The Pitreavie Business Park and Carnegie Campus in Dunfermline stand out as the largest single centre for financial shared services in Scotland. The high value-add of the shared services sector, with £103,000 per full-time equivalent (FTE), is one of the highest in Scotland, reflecting the sector’s efficiency and productivity.
Despite facing ongoing challenges, Fife’s business sector has demonstrated remarkable resilience. Between March 2023 and March 2024, turnover from Fife's businesses rose by over 23% and the number of 'high growth' businesses grew to the highest number recorded. This growth is a testament to the adaptability and strength of Fife’s business community, which continues to thrive and contribute significantly to the local economy.
