Financial Management: Capital ideas
Sir David Clementi's report has brought the question of external financing back into the spotlight. Hew Tittensor reports
Law firms are under increasing pressure to optimise not just their funding levels, but also the sources from which these are drawn. Traditionally, partnerships have depended on banks and the partners themselves to provide the working capital necessary to support the firm. However, new partners can no longer be relied upon to replace capital withdrawn by those retiring.
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