As with any business, if the firm can prove their value, they can be profitable. Remember, the Small & Medium Enterprises won’t have the luxury of budgets as a large enterprise. So, they’ll do enough groundwork before they hire a management consultant to come and plug holes in their process, systems etc. The Management Consultants needs to play a role of an advisor, more like a mentor to these businesses to gain trust and deliver value, before they can think of making any money.
If we take the stats, 8 out of 10 SMEs fail in the first 2 years of inception. So, the opportunity for the consulting firms are huge! If they have the track record of guiding first time entrepreneurs through murky waters in these initial years, they can be highly profitable. SME Business Management Consultancy offer a well advaced tax preparation software and online tax services with an affordable cost, so clients can make huge profit through this SME management consulting firm.