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04/03/2002
Survey reveals half of small businesses used external advisors
Almost half of all small and medium sized enterprises (SMEs) in the UK have used the services of external business advisors, according to a new survey.
The research, which was commissioned by business consultancy SGS Consulting, discovered that out of the 49 per cent of businesses which have sought external assistance, just over half (52 per cent) felt it had added value to their business.
Of the 300 managing directors surveyed from firms with less than 500 staff, results revealed that the most common use of external advice commissioned by 21 per cent of SMEs was for specialist services such as IT systems, human resources, marketing and recruitment. Nearly one fifth require help formulating business strategy and planning.
Commenting on the figures Mike Horner, Chief Executive of the Institute of Business Advisers, said: "It is interesting to note that nearly one half of the sample surveyed used specialist business advisors in a planned way. This obviously achieved satisfying results. The Institute recommends that owner managers should choose their Advisers after consideration and in a controlled way.
"We also suggest that the Adviser should be competent in their field and their credibility endorsed by a professional body. The IBA is the only nationally recognised body for people in business support and development."
The study, which was conducted by Template Surveys, collected it's data from responses to an online questionnaire posted on the Internet and was circulated via email in January 2002.
(LS/MB)
The research, which was commissioned by business consultancy SGS Consulting, discovered that out of the 49 per cent of businesses which have sought external assistance, just over half (52 per cent) felt it had added value to their business.
Of the 300 managing directors surveyed from firms with less than 500 staff, results revealed that the most common use of external advice commissioned by 21 per cent of SMEs was for specialist services such as IT systems, human resources, marketing and recruitment. Nearly one fifth require help formulating business strategy and planning.
Commenting on the figures Mike Horner, Chief Executive of the Institute of Business Advisers, said: "It is interesting to note that nearly one half of the sample surveyed used specialist business advisors in a planned way. This obviously achieved satisfying results. The Institute recommends that owner managers should choose their Advisers after consideration and in a controlled way.
"We also suggest that the Adviser should be competent in their field and their credibility endorsed by a professional body. The IBA is the only nationally recognised body for people in business support and development."
The study, which was conducted by Template Surveys, collected it's data from responses to an online questionnaire posted on the Internet and was circulated via email in January 2002.
(LS/MB)
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