Panic in the Legal Profession
No doubt their are difficult times that have past and ahead of for all businesses. But the legal profession are not alone and are exposed to worry like all other high street businesses especially sole practitioners and smaller partner firms.
In a survey by The Law Society many firms are struggling and predicted that within six months 63% of sole practitioners and 71% of firms with four partners or less are likely to close.
The survey was from almost 800 law firms who responded to the online survey by the Law Society between April and March. Law firms are particularly vulnerable on the High Street seeing residential conveyancing banned, a lack of face to face meetings being difficult to perform resulting in work such as wills and probate falling away.
For personal injury practitioners, naturally there are less accidents on the road or place of work and solicitors in this area will also be affected.
With many firms exempt from the COVID-19 Government help or reduced financial assistance the future of the High Street legal profession is looking bleak.
Read More, Click on Law Society Gazette – Law Firms to Close