Law firms must shape up
“Don’t milk the cash cow”, have clear monthly accounts, make sure clients pay promptly, and maintain a good relationship with your bank, is just a selection of the advice on offer from Brent Wilkinson, consultant at BDO, writing in this week’s issue of NLJ. He explains how to make sure a law firm is “financially fit” and avoids failure. Recent research found more than 30% of UK law firms are at risk of failing in the next 12 months.
