The last few years have seen significant changes to the legal market. Increased competition from high street names such as the Co-operative and Halifax...
The last few years have seen significant changes to the legal market. Increased competition from high street names such as the Co-operative and Halifax, as well as the economic consequences of the credit crunch have led clients to look hard at the cost of pursuing legal remedies. In addition the Legal Services Act, changes to legal aid, and the government’s review of the cost of civil litigation, will all equate to the equivalent of the City’s “Big Bang” in the 1980s in the next 12–18 months.
High street lawyers working for small businesses and individuals have faced the greatest challenge. They are the firms that offer services on conveyancing, wills and probate, personal injury, family law, and standard employment and commercial contracts. They have tight margins and tend to be reliant on one or two areas of business. These firms face a stark choice: evolve or continue down a path that could lead to extinction. We have seen many examples of services that
