While the turnover forecast model takes into account economic factors, the reports include much broader analysis of a wide range of factors with potential to drive change in the market as well as an assessment of the challenges and opportunities facing providers. These include:


Changing behaviour of purchasers of legal services stimulated and facilitated by technology and broader demographic changes


Globalisation / global and national economic climates


Changes to civil litigation and legal aid funding The regulatory environment Technological and process innovation


Highlights of the Study


• In England and Wales, between 267,000 and 320,000 people work in legal services, in 30,000 firms or other entities;


• Total turnover of these firms is approximately £25.6bn, or 1.48 per cent of GVA (2010 figures);


• Solicitors account for 38-46 per cent of individuals, 44 per cent of entities and 58 per cent of total UK turnover (UK figures) but the role of non-solicitor and non- barristers is significant;


• Total turnover is estimated to have fallen between 2011 and 2012 to £25.4bn (following only a marginal increase between 2010 and 2011) as the economy struggled through a double-dip recession. However, a return to modest growth is expected for UK legal services in 2013, rising slowly to £27.5bn in 2015;


• Longer term growth rates are predicted to exceed a healthy 4.2 per cent from 2015 onwards.


Accompanying the study are a range of future scenarios – each anticipating distinct political, economic and market developments, designed to help firms plot their own future business strategy.


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