Consultancy Market Insights Newsletter: April 2024
Hello 👋
Welcome to our monthly consultancy insight newsletter, April Edition!
We’re here to keep you informed, help you spot trends early, and foster a stronger connection within our consultancy community.
From a new business standpoint, things have been looking good for us. We’ve welcomed aboard four new consultancies this month, which is fantastic. But let’s not kid ourselves—it’s tough out there right now!
Many of the consultancies we’re talking to are feeling the slowdown. Winning new business feels like an uphill battle, and even getting existing clients to pull the trigger on projects is proving much more difficult than in previous years.
We need you 🫵
To get a better grip on what’s going on, we’re chatting with industry bigwigs to put together a white paper. We want to know what’s working, what’s not, and why. Some think there’s a backlog of demand waiting for post-election clarity, while others think people are just playing it safe in uncertain times.
We’d love to hear your take on things! So, let’s set up a chat and swap stories. Your insights could be just the ticket to navigate these choppy waters.
I’d like to share my thoughts!
Insider Perspectives: Market Insight
by Oscar Phillips, Consultancy Channel Lead:
“The tough market conditions dominate many of the conversations I’ve been having, though this doesn’t mean it’s been all doom and gloom for everyone. I’ve found that consultancies that have successfully delivered for their clients have been rewarded with new contracts, though obtaining sign-off has been slow! It’s on the new business front that we’ve heard many consultancies struggle. We are currently speaking to leaders in the space to gain more insight into market conditions, and we’d love to hear about how you are finding things. If you’re interested in a chat, please book a call or click the button above to share your thoughts.”
by Ross Winter, Business Development Consultant:
“This month, I’ve been deep in conversations with consultancies, delving into market conditions, emerging trends, and the challenges they’ve encountered in 2024 so far. Macro-economic shifts are reshaping the landscape, affecting industries differently. While Change and Transformation consultancies are bustling, it’s mainly due to retained projects, not new business. The consultancy world has a history of resilience, but predicting when it’ll bounce back is tricky. With whispers of a potential general election, the next six months are pivotal.”
by Daniel Lewis, Business Development Consultant:
“In the UK consultancy scene this month, I’ve noticed a clear trend toward Time and Materials (T&M) projects and upfront payment setups. This shift signals a strategic move by practitioners to secure payment certainty in uncertain times. T&M projects offer flexibility by tying compensation to actual work, while upfront payments guard against payment delays or project hiccups. It’s a practical approach to safeguard financial stability amidst market fluctuations. It would be great to get your insight on this. Book a call with me to discuss further”
A milestone achievement – £5 billion in invoices funded! 🎉
This month we’re thrilled to have reached a milestone of £5 billion in invoices funded and a decade of sustained growth! 🎉 Click the video to watch a short video of our CEO, Richard Prime, as he reflects on the landmark achievement and speaks on our drive towards reaching the next significant milestone.
