Is the Future Small?—Why are small law firms so attractive?

Is the Future Small?—Why are small law firms so attractive?

Our latest Bellwether Report 2019: Is the Future Small? considers whether the future of legal practice is in small firms. In a climate that is all about competition, where we are all feeling the stress of the workplace, we ask whether small firms, with their efficient working processes and better holistic practices may be the way forward for the ever-changing legal market.

So what’s so attractive about small firms?

Currently small firms are dominating the UK legal markets with 95% of firms falling into the bracket of earning under £500k and 50% earning less than £150k. Interesting almost two-thirds of those we spoke to had previously worked in medium or large firms before moving to a smaller firm—showing that there’s clearly a large interest in setting up a smaller, more niche practice or working for a smaller law firm. As well as this 44% said would consider working for a small or solo outfit in their next role. But why are these small firms so attractive?

What are the advantages to small firms?

There are many advantages of working at a small firm, such as improved workplace efficiency and better quality of life. From our survey we identified the top advantages as:

  1. Ability to remain in control
  2. Swifter decision making
  3. Better client experience
  4. Flexible working
  5. Competitive rates

The benefits we identified also go beyond the practicalities o

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About the author:

Hannah is one of the Future of Law blog’s digital and technical editors. She graduated from Northumbria University with a degree in History and Politics and previously freelanced for News UK, before working as a senior news editor for LexisNexis.