PracticeConsultingNews: Management Consultancies Association report

News: Management Consultancies Association report

More gloom for the industry as members of the Management Consultancies Association have reported revenues of £1,065m for the third quarter of 2001 compared with £1,106m in the second quarter, a fall of 3.7%. This was the first contraction in MCA revenues since the first quarter of 1999.

Having enjoyed double-digit annual growth for the last 10 years, the consultancy industry is now feeling the impact of the economic slowdown.

Income from management consultancy services declined by 6.8% but the most significant change was a shift from IT consultancy, which decreased by 21.5%, to outsourcing consultancy, which increased by 25.4%. This suggests that clients are outsourcing non-core activities to reduce costs.

Year on year growth, however, remains healthy with income 11.6% higher than at the same time in 2000.

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer