The Association for Consultancy and Engineering (ACE) has published its Benchmarking Study for 2021 revealing the damage caused by the pandemic
The ACE Benchmarking Study explores, profitability, cost control, R&D, productivity, staffing, winning work, Net Zero, EDI and the future of consultancy.
The report found that revenue growth sharply declined for both large companies (1.7%, down from 6.3% in 2019) and SMEs (1.3%, down from 3.4% in 2019).
The total number of staff also decreased by an average of 4.2% at larger firms and there were 17.4% fewer staff at SMEs.
Overhead and operating expenses dropped to 17.9% for large consultancies and 19% for SMEs, as well.
‘Plenty for us to be positive about’
Commenting on the findings, Laurence Brett, interim CEO at ACE said: “Our analysis clearly shows we have been through a challenging period. Despite this, we must recognise that we have fared well compared to more public-facing areas of the economy. Even with this uncertainty, our sector still registered revenue growth.
“Looking ahead, there is plenty for us to be positive about. Not just in terms of the pandemic in 2022, but through the added clarity that the recent publication of the Construction and Infrastructure Pipeline and Integrated Rail Plan have recently brought us.
“With increased interest in the procuring for value agenda thanks to the publication of the Construction Playbook, as well as the release of the Value Toolkit, our industry is still ideally placed as the delivery partner of choice for Government, creating new opportunities for our members’ to seize.”
