One of the surprise success stories to come from the economic slowdown has been the increase in demand for management consultants. The financial crisis coupled with an increased level of uncertainty has caused businesses to invest in these advisors for guidance that will help them thrive in these hard times. Dave Symondson, who works as an adviser to small and medium-sized businesses, says that although demand increases in a slowdown, there is a need to be cautions as not all businesses want help. He said: “When things are going swimmingly well, organisations believe they don’t need to invest for growth. When things become tough, only a small percentage of organisations start doing what they should to create that forward momentum and growth they need. “That means a huge opportunity for us – but the economic environment has critically reduced the inclination of companies to invest. Businesses that accept they need help and are serious about growth will reap the rewards.” More and more companies who are trying to get back on their feet after a period of decline are taking Mr Symondson’s advice, while some companies who aren’t struggling but want to reach full potential also employ consultants.
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