Report highlights challenges and strategies for UK professional services firms

According to Deltek’s 4th Annual EMEA and APAC Clarity Industry Study: Trends and Insights for Architecture, Engineering and Consulting Firms, companies are wading through many considerations relating to growth and where to prioritise their focus in 2023.

While macro issues are of concern during 2023, the report found that UK organisations are also highly concerned about issues directly impacting their business. Cyber-security risks/breaches were ranked equal to a global/country-based recession as the number one concern for the 549 senior decision makers questioned, with both being selected by 66 per cent of those surveyed. 

The lack of clarity in their growth plans puts UK firms behind their global counterparts in terms of predicted profit generation. While 65 per cent of UK organisations expect their profits to increase in 2023, they are less optimistic than other regions. Four-fifths of organisations in Nordics (79 per cent) or Australia & New Zealand (77 per cent) expect to raise profits.