Scottish legal market looking up
There has been significant improvement in the Scottish legal market, according to a new survey of the country’s top firms conducted by industry advisors PKF. The survey looked at the top 30 legal practices in Scotland in 2011, and found that half of those firms were wither on budget or exceeded their expectations.
A third of the firms reduced their staff during the past year, down from 63% in 2010, while 31% of the firms recruited more staff.
More than 80% of firms also said that clients wanted to negotiate reduced fees.
Charles Barnett, professional services partner with PKF, said: “There is unlikely to be a return to the 'good old days' pre-2008 so it is important that firms realise this, develop strategies for growth in the new economic environment, and recognise the legal sector as it is rather than as they would want it to be.
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