UK Consulting Sector in Growth Phase
The UK consulting sector has reported a growth of 6% in the first half of 2010 compared to the previous six months, The Management Consultancies Association’s (MCA) Half Yearly Report said.
This performance is quite a significant growth from the same time last year when the sector had seen a contraction of 2%.
The Half Yearly Report is a survey of the member firms of the MCA, which makes up about 70% of the management consulting industry in UK.
The demand for consulting services in the overseas market increased as well. For consultants, Continental Europe was the most important overseas market. It is also the source which has seen the highest growth. In fact, the survey showed that 40% of the member firms saw increased growth in the area.
The first half of this year saw UK consultancies being used 25% more in Continental Europe, while Asia Pacific and Africa increased their use by 18% and 13% respectively.
Chief Executive of the MCA, Alan Leaman said in a statement that the consulting industry has seen a successful start this year and that firms are confident that the success story will continue for the rest of the year as well.
The survey has shown that though most areas of the consultancy industry witnessed growth, it was manufacturing and financial services that can be called the real engines. More than a quarter of the MCA member firms said that more than 5% of their fee income came from these sectors, which was significantly a lot more than any other sector.
The survey also showed that demand for the key consulting services such as operational improvement and IT consulting remained strong as it was and services such as marketing, communications and change managements, which had suffered due to the recession, had come back strongly.