The Institute of Business Consulting has progressively been developing its position and strategy as the Professional Body for the Business Consulting Profession.  Its history and background is an amalgam and extension of several predecessor bodies.

In 1961 the Management Consultants Association (MCA) decided to establish an independent Institute of Management Consultants (IMC) to deal with matters affecting consulting as a profession.  The MCA’s role became that of a trade association and eventually the two bodies moved apart.

During the 1990s the Institute subtly changed its name to the Institute of Management Consultancy, opening the way for corporate as well as individual members. At the same time, the Certified Management Consultant (CMC) award became required for full membership of the Institute. Although no longer a condition for membership of the Institute of Business Consulting, the CMC award was recognised internationally.  The IMC then entered into negotiations with the Chartered Management Institute and merged with that body in January 2005.

Meanwhile, on a parallel course the Institute of Business Counsellors was established in June 1989.  The Institute of Business Counsellors was granted recognition by the DTI as a professional body and was overseen by a council comprising Small Firms Service Regional Advisers together with senior Business Counsellors from the other business support organisations including Local Enterprise Agencies, Rural Development Commission, Welsh Development Agency and the Scottish Development Agency.

A founder member of the Small Firms Lead Body, Institute of Business Counsellors was active in developing standards of competence for owner/managers. In 1994 with the support of DTI, it joined with the National Federation of Enterprise Agencies and Durham University Business School to accredit and promote Training Courses in Small Business Support.  In 1997, to reflect the developing and changing needs of business and support services, the Institute became The Institute of Business Advisers (IBA) and a key partner in the work of the Small Firms Lead Body, extending its reach far beyond the original counselling role, with substantial involvement in business development and NVQ assessment.

During 2005 the IBA approached the IMC, which had just completed a merger with the Chartered Management Institute, to begin negotiations for their merger. In 2007 these discussions culminated in the creation of the Institute of Business Consulting.