Legal services sector remains strong throughout pandemic
Strong news for the legal industry here: www.legalfutures.co.uk/latest-news/value-of-legal-services-market-unchanged-by-pandemic
The impact of the pandemic has slowed down the growth of the legal industry, but not reduced the size of it. Obviously all of us who work in this sector are thankful that many law firms have been able to keep operating over the last year and keep providing a valuable service to clients.
While the value of the market remains the same, the operation of the sector is undergoing a big shift, particularly with the numerous sector reforms planned in the UK and elsewhere. What’s important to understand from reports like this is that the need for legal services is still at the same level, so it is up to Law Firms to adapt with the changes to accommodate that. This means recognising the opportunity to establish new routes to market and integrating technology solutions that can improve efficiencies thus facilitating greater market share without the need for significant investment.
The next few years will be very interesting in the legal services market and I for one am looking forward to working with law firms who are excited by the scale of the opportunity.