Business consulting is a professional service in which a consultant works with a business to identify problems, evaluate operations, and improve results such as efficiency, profitability, growth, or execution. The U.S. Bureau of Labor Statistics describes management analysts, often called management consultants, as professionals who recommend ways to improve an organization’s efficiency and advise managers on making organizations more profitable through reduced costs and increased revenues. In practice, that can include reviewing finances, studying workflows, interviewing staff, analyzing data, identifying bottlenecks, and then recommending changes in strategy, structure, staffing, systems, pricing, marketing, or operations. 

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A business consultant may help with things like starting a company, creating a growth plan, improving sales, cutting waste, reorganizing processes, entering a new market, or managing a turnaround. SBA partner programs such as Small Business Development Centers also describe their support as counseling and training to help businesses start, run, and grow, which overlaps with the practical role many consultants play for small businesses. Broadly, business consulting means bringing in outside expertise to diagnose issues, give objective recommendations, and sometimes help carry those recommendations through implementation.