Tag Archives: legal firms
80% of law firms expect less work after Referral Fee Ban
According to a survey last week by the Association of Costs Lawyers – 80% of Personal Injury lawyers expect to get less work after next April 2013 as the implementation of LASPO (Legal Aid, Sentencing and Punishment of Offenders Act 2012) and the Referral Fee ban take effect.
Concerned Legal Firms
Solicitors are extremely worried and 84% expect a drop in profits and 90% expect increased competition to force down success fees once they are no longer recoverable. Added to that is the big shake up of legal services which has removed restrictions on where legal products may be sold- the so called ‘Tesco Law’ means that legal services can be offered alongside businesses such as supermarkets, banks, and High Street shops. The new set-up also means solicitors can seek external investment in new ways.
How to Develop New Markets
Solicitors’ firms therefore need to develop new markets, seek external investment and join up with other businesses to offer different products to consumers and provide opportunities for growth. Savvy law firms are already investing, marketing and using design & printed material to get their products and services in front of new markets and compete against their competitors!
Please contact Spot On Design & Print if you would like to know more about how we can help your Law firm or other Professional Service Organisations such as Accountants develop and print Marketing material to compete in this ever changing landscape!