LexisNexis UK

The report highlights that 31% of firms have outperformed profit expectations since the pandemic. Perceptions of the future market are bullish, with 93% having confidence in their firm’s future – higher than all pre-pandemic scores.

Unlike the larger end of the market, smaller law firms predominantly grew organically, rather than higher risk M&A. Many firms reported that they had grown and diversified practice areas by acquiring staff that had been laid off by other firms quickly and easily