How to Relieve the Pressure on Profitability

The current position for law firms in the UK in 2023 is not straightforward. The cost-of-living crisis is impacting on all areas of business. Energy bills have risen sharply, materials and services are more expensive, and lawyers are demanding bigger salaries as they feel the pinch at home.

Firm overheads rose by almost 12 per cent in the third quarter of 2022. This may be partly attributable to one-off reconfiguration costs as firms adapt their premises and systems for a hybrid working model.

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