Consulting industry fees back at pre-crisis level
5% fee income gorwth in the management consulting industry, as economy slowly recovers
THE UK CONSULTING INDUSTRY grew by 5% in 2011, brining fees back up to pre-crisis level, according to Management Consultancies Association statistics.
The growth, driven by a slow-but-sure economic recovery, shows a “resilient bu agile industry”, said MCA chief executive Alan Leaman (pictured).
“It looks likely that the increased spending on consultancy services in 2011 by the private sector was an early sign of some improvement in wider economic prospects,” said Leaman.
“While most private sector clients are not confident enough to undertake major projects, they are often developing their capacities, processes and systems so that they are ready for an upturn when it materialises.”
The industry, of which the MCA represents some 60%, is now valued at nearly £9bn.
The private sector drove growth: picking up by 14% in fees earned.
Manufacturing, while a smaller market, saw the biggest growth, 21%, suggesting a push to exploit economies of scale and improve supply chains.