The body is looking to slash its 15 contracted agencies down to 'a maximum of four' in an effort to cut back on its £1.2m PR agency spend this year.
Incumbents including Weber Shandwick, Beattie Media and The Big Partnership are likely to be involved in the process, which will go out to formal tender in October.
Currently PR work for the body is split into an array of accounts covering regions of Scotland and projects such as promoting the body's website.
It is believed the remaining accounts will cover three or four areas of Scotland and be worth around £100,000 each.
A Scottish Enterprise spokesman admitted the review had been driven by a desire to reduce the body's PR spend, but would not comment on speculation that the cut amounted to a £500,000 reduction in budget: 'We are looking to make substantial savings on our PR spend but until we start exploring the details of what we want agencies to do, we can't comment.'