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Consultants Prove Their Worth To Small Businesses, Survey Says

Written by Ken Gaebler
Published: 5/4/2011

Small businesses achieve higher revenues more quickly when utilizing consultants.

Entrepreneur news is full of advice, suggesting ways that businesses can improve their marketing strategies, secure financing and boost revenues. However, it's not often that business owners are fielding advice on the importance of getting advice.

Consultants to Small Businesses

A recent study, though, from the University of Cincinnati found a significant correlation between businesses seeking consultations with experts and achieving high revenues fast.

"Consultation with outside advisors can bring more information and fresh perspectives into the decision making process and convince business owners to pursue alternative options," said Jeremy Woods, a doctoral student at UC's College of Business who conducted the research.

The survey questioned 1,200 startup business owners nationwide and will, Woods believes, give consultants something to back up their suggestions with, in addition to helping small business owners identify practical solutions to problems.

However, small businesses should make sure they don't take the first advice they receive or hire the first consultant they meet. Success will be more likely if they gather a range of opinions and find a consultant that accords with their business and work ethic.

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