Law firms in the UK are currently tiptoeing across the slimmest of financial tightropes, as they seek to succeed in an uncertain environment.
We have provided an in-depth analysis, in association with Legal Week, of law firm LLP accounts for the year 2016-2017. Using recently filed data from Companies House, we have looked at everything from debt levels to profit margins to partner capital to really determine what is going on at the heart of the legal sector.
We look in to the issues affecting the legal industry such as the ramifications of the EU referendum vote and its effect on law firms, whether the amount locked-up in law firms is reaching dangerous levels and querying whether the sector could survive if another economic shock hits.
Giles Murphy warns while the headlines may sound positive, a more in-depth review shows firms are struggling to cope with the challenges they face and have little spare resource. (Video reproduced with kind permission from Legal Week)