As the results for 2014-15 show a sustained if gradual improvement in law firms financial performance, together with the news of Gateley’s successful IPO it is tempting to assume that the worst is now behind law firms after a gruelling period following the financial crisis. However, law firms need to be wary of the upturn and ensure that their firm is well placed to weather the storms that will buffet the legal market for many years to come.
In our view there are six factors that law firms need to pay particular attention to if they are going to survive and thrive over the next few years.
