What does consultancy mean?
Consultancy refers to the professional practice of providing expert advice to organisations or individuals, typically for a fee. It also denotes the firms themselves — businesses staffed by specialists who analyse problems and recommend solutions in fields such as management, technology, finance, and human resources. A consultancy differs from a consultant: the consultant is the individual advisor, while the consultancy is either the advisory business or the industry as a whole. The word derives from the Latin consulere, 'to deliberate or take counsel', reflecting its roots in the idea of seeking wise guidance. Usage is strongest in British English, where 'management consultancy' is a standard term; American speakers tend to say 'consulting firm'. Consultancy work carries connotations of expertise, objectivity, and often considerable expense, and the sector has become a major feature of the modern global economy, employing millions and shaping decisions in boardrooms and governments alike.
nounThe professional practice or business of providing expert advice in a particular field; also, a company or firm that provides such advisory services.
- A firm or business that provides professional expert advice in a specific field such as management, technology, or finance.
- The profession or activity of giving expert advice on a paid basis.
"She joined a management consultancy after completing her MBA."
"He spent three years at a London consultancy specialising in healthcare strategy before going independent."
"After retiring from teaching, she set up her own consultancy advising schools on curriculum design."
Standard plural, used when referring to multiple advisory firms.
"Several large consultancies compete for government contracts each year."
The world's biggest consultancy firms advise governments and Fortune 500 giants — yet the word itself simply comes from Latin 'consulere', meaning to deliberate or take counsel together.
Reviewed by Deb Chak, Editor. AI-assisted content curated by RJS Tech Solutions LLP.
Etymology of consultancy
Consultancy traces back to the Latin verb consulere, meaning 'to deliberate, take counsel, or consult', formed from com- ('together') and a root relating to sitting or considering. The word entered English through the broader family of consult-related terms, with 'consultant' attested from around the early seventeenth century. As professional advisory services developed into a distinct industry during the nineteenth and twentieth centuries, 'consultancy' emerged as the natural noun for that practice and for the firms providing it, sharing its lineage with consultation, consultative, and consul.
Related word forms
How consultancy is actually used
In British English, 'consultancy' often refers both to the firm and to the practice of consulting; in American English, 'consulting' or 'consulting firm' is more common. The word carries connotations of professionalism, expertise, and premium fees.
Easily confused with consultancy
A consultant is an individual who gives expert advice, whereas a consultancy is the practice of consulting or the firm that employs such advisors.
A consultation is a single meeting or act of seeking advice, while a consultancy is an ongoing practice, business, or firm.