Every year the demand for consultants of all kinds increases, as organisations become leaner and more compact and outsourcing more commonplace. This fully revised new edition provides essential information and practical step by step guidance on starting and developing a successful consulting practice. It contains expert advice on the process of consultancy in terms of marketing and selling activities and how to conduct assignments. Also covered is how to run a consultancy as a business, including setting up, business planning, record and administrative systems and legal, taxation and insurance considerations. Essential reading for the would-be consultant, it has much to offer the established practitioner too.

Table of Contents:
1 understanding the consulting business what is a consultant? who goes into consulting? why do organizations use consultants? regulations affecting consultants 2 self-assessment introduction assessing yourself and your marketable skills keeping up to date 3 setting up your business start-up costs and monthly expenses selecting a name selecting an office selecting a telephone system special telephone features saving money on long distance phone calls other communication options developing your website 4 legal forms of business structure introduction sole trader partnership limited company choice 5 selecting business and professional advisers general criteria for adviser selection solicitor accountant bank manager insurance consultants 6 preparing your business plan why prepare a plan? format estimating your start-up funds summary 7 how to obtain financing types of financing sources of financing competition between lenders tips on approaching your lender why loans are turned down 8 keeping records accounting and bookkeeping basic accounting records nonfinancial records office systems 9 tax considerations things to do at the outset accounting records self-assessment taxation under a current year basis corporation tax trading expenses prior to setting up income tax profit vat national insurance contributions employees 10 insurance obtaining insurance planning your insurance portfolio types of business and personal insurance 11 professional liability contract and tort liability reasons for claims how to avoid professional liability and prevent losses professional indemnity insurance practising without insurance 12 credit, invoicing, and collection disadvantages of extending credit assessing the client avoidin