Neil Steggall
Neil Steggall Partner at Wardour Capital Partners

Will SME's spend & invest in consultancy skills to help build their businesses in 2014?

To place this into context two recent comments have caused me to pause and really think on this question. The first was Warren Harmers excellent SavvySME article, "Small-business clients, the good, the bad and the ugly", and the second, at a think tank forum this weekend on the subject of SME's a  fellow board member argued that SME's will not spend a cent in 2014 unless it is to save money.

I welcome your input.

Top voted answer
Gerhard Blank

Gerhard Blank, Director at Gerton Logistic Solutions Pty Ltd

~~Most often SME’s do not have the experience in every field of their business to ensure success, or the turnover to support a high salaried individual who does. Therefore I see that it‘s a must for SME’s to engage consultants to support them in becoming more competitive in the market.

You only have to read the news to know that manufacturing in particular, is struggling in Australia. By engaging a consultant they can support SME’s in delivering real bottom line savings and speed to market.
Gerhard Blank
Director, GERTON Logistic Solutions

Apurv Bhalla CPA

Apurv Bhalla CPA, Accountant at Success Tax Professionals

Most SME's want to do everything themselves.....but unless they try something they will not value it. In the end its all about the cost.....will it work,,,,will I waste my money ect....Most SMEs do not want to invest in building brand....Whats the solution?

Steve Gray

Steve Gray, Director at Gray Capital Investments

Top 10% Marketing

SMEs, a few issues to consider

- Busy - so time stops them (can't find enough if they did they might not spend it on more work related 'stuff')

- Over it... business has sapped their energy, they survive and hope for the best... not willing to try things.

- Spend, only if I have to - It's hard won $$ therefore you want it you need to be very persuasive to pry it from them.

- Consultant! - I'll do it myself, someday... (too proud to get in outside assistance).

Just a few thoughts :)

Wendy Huang

Wendy Huang, Full Time Blogger and YouTuber at A Custom Blog in 4 Minutes

Top 10% Social Media

I'm sure small business will spend if they can see a direct result of the consultancy, but I feel a lot of sales messages for consultancy these days promise great results, but the pitches are not specific enough for me to justify spend.

Wallets are tight these days so I feel that consultants have an even bigger job and more pressure to do a great pitch for business. 

I wonder if the money is the real barrier or the trust for the consultant to bring about change that will increase in revenue. Because logically speaking if revenue increase was higher then expenses it should be a straight forward decision.

Neil Steggall

Neil Steggall, Partner at Wardour Capital Partners

Thanks Wendy, you have placed your finger on the crux of the matter, trust or believability. This isn’t only applicable to consultancy but to businesses across the board and one which if properly worked through could become a valuable point of difference.

Gerhard Blank

Gerhard Blank, Director at Gerton Logistic Solutions Pty Ltd

Trust is a big one. I find that once I have worked with a client once, they invariably want me to support them on further projects.