The survival of small law firms

It comes as no surprise that the legal profession is experiencing a paradigm shift. Much of that shift has been driven by a tough economic climate, emerging digital disruption and an oversupply of lawyers. Legally Yours comments on the trends that the changed market creates and the challenges law firms face.

The changed market creates significant challenges for law firms, and in particular for small law firms and sole practitioners. Only those that adapt quickly and rise to the challenge will prosper.

So how, then, do they adapt? Small firms and sole practitioners are under a lot of pressure. On top of providing legal advice, they are faced with the ongoing demands of running a small business. At the end of the day, there’s little time and few resources to dedicate to succeeding in a marketplace where clients are overloaded with choice and information.

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This article does not constitute legal advice or a legal opinion on any matter discussed and, accordingly, it should not be relied upon. It should not be regarded as a comprehensive statement of the law and practice in this area. If you require any advice or information, please speak to a practising lawyer in your jurisdiction. No individual who is a member, partner, shareholder or consultant of, in or to any constituent part of Legally Yours Pty Ltd accepts or assumes responsibility, or has any liability, to any person in respect of this article.

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