- Wednesday, 29 May 2013
Small firms should consider the benefits of alternative business structure (ABS) status as a way to handle succession planning, the senior partner of one of the latest licensees has said. “ABS means we can end our practising certificates and still own the firm,” he explained.
Tags: ABS, Alternative business structures, succession planning
Posted in Alternative business structures, Latest news, Market monitor
- Wednesday, 27 June 2012
A growing number of small and mid-sized law firms are looking at raising external capital, but many need to address failings in basic business planning first, new research has found. It also identified £20m as the turnover point when a law firm turns into a real business.
Tags: ABS, Alternative business structures, external investment, mergers, succession planning
Posted in Alternative business structures, Latest news, Legal Services Act, Market monitor
- Tuesday, 3 May 2011
Dealing successfully with succession is proving a difficult challenge for many traditional legal practices. The average age of (predominantly male) equity partners is now 59, yet most have failed to plan for their exit and succession. As a result, many firms now face an uncertain future with little or no value being placed on the sale prices of their practices and no younger partners prepared to invest in equity to enable partners’ retirement.
Tags: succession planning, valuation
Posted in Blog
TV dramas have made many people think that the legal profession consists of heroes (or villains) in high-flying firms or public prosecution. In reality, nearly a quarter of solicitors work in-house.
Increasing demand for ‘hot’ areas of law inspires opportunist law firms to hire more specialists to add to their firepower – the right people at the right time. Yet this is a big ask.
Learning has come a long way since I qualified. There’s a lot more knowledge available about how students learn and how different students learn differently. It’s not one-size-fits-all anymore.