Bellwether Report 2023

Following the publication of LexisNexis’s Bellwether Report 2023 examining the outlook for SME law firms in the UK, Managing Partner Katie McCann offers her insight into the report’s findings for The Brief.

Katie’s comments were published in The Brief, and can be found here.

Responding to the findings of the report, Katie said of the firm’s outlook that “the pandemic and the ongoing war in Ukraine and cost of living crisis have led to an uncertain world economy.

Entrepreneurial law firms such as ourselves still have huge ambitions to grow, but we have found the market at large and prospective new talent are seeking stability at present. Whilst mergers cannot be ruled out, they are much more risk-laden than organic growth.

The goal at present is much more about maintaining a solid base, weathering the storm as it were and coming out the other side in a strong position to hit the market when conditions change. An essential component in our strategy this year is to invest in our PR and digital marketing presence. In doing so, we’re confident that building trust and recognition in our brand and reinforcing our position in the local network and market is key.