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Small firms must avoid 'race to bottom'

Small firms will continue to provide the backbone of legal services - but they may look different in the future, Law Society president Jonathan Smithers told a conference session on the role of bar associations in supporting small firms.

Smithers set out a grim list of challenges facing practitioners, including:

  • legal aid cuts
  • online competition from unregulated providers
  • difficulty of finding affordable professional indemnity insurance

But he cautioned against joining a 'race to the bottom' on prices. Research for the Society's Small Firms Division showed that 60% of clients found specialist knowledge the most important factor when choosing a legal service provider.

Source: www.lawgazette.co.uk

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