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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 20-29 – 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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The edition is free – and full of great content SETsquared recognised as world leader
SETsquared, Southampton University's Business Incubation programme based at Southampton Science Park, along with its university partners at Bristol, Bath, Exeter and Surrey, has been recognised as one of the top four most-influential university business incubators globally, by the recent UBI index report, as well as the number one incubation programme outside of the United States.
This follows a string of successes from the organisation, which has devoted considerable time and effort over the past few years to providing an increasingly-valuable resource to southern start-ups. Alan Scrase, a successful entrepreneur in his own right, was recruited as centre manager to fulfil SETsquared’s primary objective – of achieving success
with its existing and growing portfolio of start-ups, allowing David Bream, director of the programme, to focus on continued development of the SETsquared concept.
In the November issue of The Business Magazine
• Technology • Solent 250 list revealed • Taxation • Alternative Lenders • Focus on Basingstoke • Outsourcing • Entrepreneurs
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Bumper anniversary special issue
SMEs and the recovery Roundtable discussion PLUS: Dining & Your Business...
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