“…While some studies question the link between advice seeking and positive business outcomes (Coad et al, 2016;Mole and Capelleras, 2017), others point to a range of benefits for SMEs who seek external advice and support (Cole and Fernando, 2021;McKenzie, 2021). Advisory services can contribute to a firm's knowledge, reduce business risks and improve strategy decisions (Mole et al, 2009(Mole et al, , 2011 and can offer support and reassurance for business leaders dealing with complex and multi-dimensional issues (Bonner et al, 2018). In SMEs, where external support is particularly relevant given their limited internal knowledge and resources (Johnson et al, 2007), the use of external business advice has been associated with higher sales growth, innovation, finance and alliance participation (Cumming and Fischer, 2012).…”