Cost to hire a Business Consultant on Bidvine

£45 - £75

National average price

£45 - £75  National average range
£45 - £75

£45

£75

Your estimate

How much does business consulting cost?

Mar 13, 2020

On average, hiring a business consultant in the UK generally costs around £95 to £350. The exact cost for your business consulting will then depend on the length of time you will need consulting services for as well as the industry. To get a comprehensive quote for your consulting services, when submitting a request provide a detailed description of your particular business consulting needs.

Business Consulting Costs

UK National Minimum Cost£95
UK National Maximum Cost£350
UK National Average Cost£240
Average Range£95 - £350

Included in This Price Guide

What Does a Business Consultant Do?

Is it time to take your business to the next level? Do you need some outside assistance with helping your business meet its goals? Do you have some aspect in need of an overhaul, such as your IT system? Or perhaps you feel that you want to expand your market and don’t where to start?

Hiring a business consultant is seriously advantageous when you want to bring about positive changes in your organisation. A consultancy can help you with strategy, problem-solving, and planning when you need to get an outside perspective on your business. A business consultant will carry out an in-depth analysis of your company, helping to improve your company’s performance and efficiency by coming up with solutions and changes that you can make to improve the success of your firm.

An effective business consultant will bring about measurable outcomes that will improve your profits and your bottom line, taking you to the next level with your company.

Considerations

Business consultants come in all shapes and sizes, and naturally, they also have different price tags, depending on a number of variables. There are numerous considerations which will affect the price of business consulting for your firm, depending on your wants and needs for your company. It’s important to take into account a range of factors when you’re looking to hire a business consultant.

Type of Business and Industry

The type of business that you run will affect the price of the business consulting package that you get. A small business that is not heavily reliant on technology or security will generally be less costly than a mid-size to large tech-based firm.

The size of your workforce may also have an impact on the price of consulting. It may be that you can repurpose existing staff to assist with the implementation of new plans, bringing down the cost of having this carried out by the business consultant

Consider the nature of your business, the skillsets, and the internal resources possessed by your firm, as these are factors that will affect the pricing of consultancy.

Goals for Consulting

Business consulting is not one-size-fits-all. Many consultants specialise in one particular area, and they vary in price. For example, security and finance consultants generally demand higher prices than marketing consultants.

Think carefully about what your goals are for consulting. Here are a few top questions to ask before hiring a consultant:

  • Are you looking for fresh ideas about where to go next with your business?
  • Do you need to grow your market through advertising and marketing strategies?
  • Do you need an overhaul of your web development infrastructure but you’re not sure where to start?
  • Do you need to upskill your staff or perhaps make cuts to your workforce?
  • Do you just want a plan or strategy for your firm, or do you want longer-term assistance with the implementation of a blueprint for your business?
  • Do you need to organise financial bookkeeping strategies?

When you have an idea of what your specific goals are for your business will allow you to select the right business consultant for your company, and this will have an impact on the price of consulting.

You may want to hire a strategy consultant, management consultant, information technology consultant, human resources consultant, or financial advisory consultant. The type of consultant that you hire can impact how much you pay, for example, strategy consultants work at the top of their industry, often with large firms, governments, and so on, and tend to command higher prices.

Time, Frequency and Fee Structure of Consulting

Many business consultants charge time-based fees. This could vary from hourly, to daily, to project-based prices. It is worth considering how long you wish to work with a business consultant, as well as how frequently you work with them. Although some may charge a lower rate to visit for one day a week, you need to consider what your goals are and make sure that your consultant has ample time to carry out their analysis so that they can give you the best possible advice.

Some consultants charge in a different way, such as payment through the Return on Investment or a monthly retainer, which is where you pay a consultant a monthly fee to work with them long term. Make sure that you get a full understanding of exactly how your business consultant will charge you for the work that they do.

Experience of Business Consultant

A great business consultant will have considerable business expertise, carry out detailed analyses, and have passion for what they do. A consultant who has experience of your industry or the problems faced by your firm will be the most appropriate.

Ask your business consultant to see a portfolio of their work. Someone with a full portfolio of successes in your industry is what you’re looking for. They will be able to clearly demonstrate how they have helped other businesses to become more efficient and perform better. Also, ask for reviews and referrals to make sure you feel confident in your hire. Look to reviews from past clients as well so that you can ensure that you choose the right person for the job.

Location

Business consultants in London and the southeast will be able to command higher rates as a result of the higher costs in the area in general. The local cost of living and travel expenses incurred by your business consultant will also play a part in the price that you pay for business consulting.

Hiring a local business consultant also has the advantage of an understanding of local markets. A good understanding of your markets and industry is key when selecting a business consultant.

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Summary

Business consulting can clearly vary considerably in cost, depending on the industry of your business, its characteristics such as size and dependence on technology, and what you want to achieve through hiring a business consultant. Also, factors such as the experience of the consultant, their location, and where their expertise lies will impact the cost of business consulting.