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news opinion
The legal world is changing fast. Commercial pressures caused by the global downturn, plus the impact of the new Legal Services Act, have meant law firms have had to look carefully at their business model to see if it will remain relevant in the decade ahead
Some firms have seen that consolidation in the sector is inevitable and the only way to compete in the new age is to go for strength in depth. That means merging with another firm or acquiring specialist teams.
Some have looked beyond law, seeking to merge with an accountancy firm to broaden the range of expertise they can offer businesses.
The old days of crusty lawyers referencing dusty books in dimly-lit rooms is long gone. Those firms that failed to see the light have mostly gone to the wall, but many have refocused and are shining examples of well-run, relevant businesses, in tune with the needs of the commercial world.
The new wave of competitors – such as the Australian brand, Slater & Gordon – are arriving in the UK. Legal services are now being advertised on mainstream television.
Individuals can now purchase legal templates on the web and adapt them to their needs. Companies can buy the services they need as and when required, and will shop around for a good price.
Law firms have to offer local and regional services while having their eye on the global market. International networks are key, particularly when a number of overseas law firms are looking to get into the UK market in a big way.
Our pages on The Legal 500, pages 26-40, highlight the expertise that’s available right here in this region. How different will the list of firms look in one, two or three years’ time ...?
David Murray Publisher
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Growth in SMEs employing one person
A survey of 2,500 UK businesses set up this year found that 65% of businesses only employ one person and many had set up because they were confident they could keep staff costs to a minimum.
The survey, released by business outsourcing website
Freelancer.co.uk, backs up findings by the department of business, skills and innovation that found businesses which only employ one person had doubled in number between 2000 and 2012.
The survey found that a striking 72% said that they were more confident of keeping staff costs to a minimum as they were able to employ people as and when they needed, suggesting the businesses today were more willing to employ people for short-term jobs.
41% of businesses said they were able to hire
people for short-term work because of the availability of a remote workforce on the Internet, allowing them to hire accountants, legal advice, marketing and sales staff, as well as ecommerce site programmers, and design and branding services with confidence.
Of those in the survey who used an outsourcing site to hire workers, 85% said they did so because it offered security and protection by ensuring that all monies were held in an escrow account and not paid out until the freelancer has completed a job, while all the freelancers they hired had reviews from other businesses which ensured a reliable track record and quality of work. The same number of respondents said the Internet gave them access to a reliable work force that they wouldn’t have without the Internet.
THE BUSINESS MAGAZINE – THAMES VALLEY – OCTOBER 2013
Business THE M A GA ZINE
SOLENT & SOUTH CENTRAL JULY/AUGUST 2013 #140
www.businessmag.co.uk
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IT skills and funding Southern Tech 100 Roundtable
Celebrating 20 years' Business
supporting businesses in the region THE
M A GA ZINE
THAMES VALLEY SEPTEMBER 2013 #210
www.businessmag.co.uk
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Bumper anniversary special issue
SMEs and the recovery Roundtable discussion PLUS: Dining & Your Business...
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