ACE report suggests services like OMS may shine post-Brexit
A report conducted by The Association for Consultancy and Engineering (ACE), titled Future of Consultancy – Global Export Strategy for UK Consultancy and Engineering, calls for UK consultants and firms to look abroad and prioritise overseas construction markets. As Brexit looms ever closer, the future relationships between UK companies and their international counterparts is going to be the deciding factor on a successful transition period.
The report highlights UK businesses' glowing reputation for their consultancy services and how this should be leveraged across ten fast-growing markets throughout the globe. Particularly noteworthy is the fact that only one of those ten countries is based in the European Union - Germany - the other nine being non-EU nations including the USA, India, Indonesia and Ethiopia. Services are the UK's largest export, and this study demonstrates how there are myriad opportunities available for UK consultancies to utilise their expertise and facilitate international company growth post-Brexit.
One company which could reap the benefits of this is OMS, a specialist consultancy and training service provider who saw a 30 per cent increase in sales in 2017/18. OMS' managing director, Clive Ormerod, told the Review, "some of the biggest problems that SMEs face are burdens imposed by changes in laws and regulations. This particular problem has two facets: one is simply understanding and interpreting the laws; the other facet is actually implementing these statutory changes in an effective and efficient manner.
Ormerod's comments, in a way, highlight a further opportunity in light of this study; British service providers can (and should) be setting the narrative for what legislature and statutory functions are in place when it comes to providing services not just in the UK but globally. With regulatory freedom, consistency and clarity, it is possible that this hugely important arm of the UK's exports could spearhead economic growth for the foreseeable future. On this point Ormerod goes on to say,
"This is one of the areas in which our value is most apparent. It is an area in which it's more important than usual to understand our clients as thoroughly as possible, so as to understand which laws and regulations do and do not apply. It's perhaps for this reason that we've seen a 30 per cent growth in demand for our consultancy services, and 10 per cent for training, a lot of which focuses heavily on legislative compliance."