Management consultants help organizations in solving problems, improving business performance, creating value and maximizing growth. Organisations may draw upon the services of a management consultancy for various reasons — getting a fresh viewpoint, receiving external advice on certain matters and gaining access to consultants’ specialized expertise. As a result of their exposure to numerous firms, management consultants are typically aware of the best industry practices.
The work taken on by a management consultancy can vary from e-business to marketing, supply chain management and business strategy. Some consultancies focus on a single sector like IT, healthcare or marketing, whereas others take a broader approach to managing multiple business matters, like employee engagement or regulatory compliance.
Why become a management consultant?
Management consulting can be an extremely rewarding business. The Gulf consulting market records an annual turnover of approximately USD 2.7 billion a year, according to a report by Source Global Research. The UAE is the second-largest market at USD 600 million per year. Besides, the public sector is one of the major users of consultancy services in the region.
Being a management consultant requires a unique skill set, including strategy, research, and communication skills. Consultants help businesses by filling in the skills gap and offering their expertise in areas that businesses lack internally.
Companies find it much cheaper to acquire external assistance than hiring new individuals or teams to manage such issues. Doing so allows them to focus on the project at hand without getting burdened by the day-to-day running of the business.
Why start a management consultancy business in Dubai?
Dubai is a city that embraces new entrepreneurs looking to establish their businesses. With this, the city brings numerous opportunities for management consultancy businesses. Some benefits of starting a management consultancy business in Dubai are listed below:
- Growth opportunities
The growing number of companies in Dubai offers high growth prospects for management consultancies. The city is characterized by a large pool of business enthusiasts, especially start-ups, that often turn to professional consultants to make their journey easier. Dubai Expo is also likely to create significant business opportunities, leading to a huge potential client base for management consultants.
- Broad scope for business
Dubai has a diversified economy, and companies in every sector require management consultants. IT and finance are some of the most successful sectors in Dubai at the moment. Offering consultancy servicesin these sectors can be quite profitable.
Setting up your management consulting firm in Dubai is not necessarily expensive. This is a business that can be started from a small office. Apart from office utilities, you can start with a bare minimum of computer and basic scheduling and collaboration software. Dubai also offers many investment options for the financial growth of businesses.
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*Please Note: This article was published on 01st June 2021. The information provided in the article is based on the policies and rules applicable at the time of writing it. Talk to one of our consultants for any recent update or change.