Management consultants income breaks £3bn barrier
For the first time, combined revenue from members of the Management Consultancies Association has topped £3bn.
Revenue for the final quarter of 1999 saw MCA top £827m bringing the association to its record figure for the year despite a drop in IT consultancy income.
Bruce Petter, MCA?s executive director, said: ?The fourth quarter showed much stronger growth and prospects than were expected in the final weeks of the century.
?Our members are entering the second millennium with renewed confidence and an eagerness to embrace the challenges of e-business and industry consolidation. With both order volumes and average fees showing an upward trend we look forward to steady growth in 2000.?
MCA was formed in 1956 and represents leading UK consulting forms which currently employ around 13,000 consultants.
Around 79% of MCA?s members saw growth over the course of the compared to 63% the year before. The association said its members remained confident about the consulting industry?s prospects.
However, concerns exist over e-business which is viewed both as a threat and an opportunity.
The MCA believes finding staff with the right expertise to deal with the challenges from e-business will a challenge uncertainty remains over the structure of the new industry.
MCA REPORT: KNOWLEDGE SOCIETY – Visions of the future