Involving employees in the ownership of a business can improve performance, motivate your people, promote team spirit and cohesion, and support succession planning. Robert Postlethwaite looks at the options for law firms
Lawyers are not good at charging their true worth. They take their expertise for granted. They go out of their way to deliver for clients. But if you charge your true worth, you will generate more income without having to get more clients. Vanessa Ugatti explains
The Law Management Section’s Finance and Business Forum takes place this November. Simon McCrum provides a sneak peek of what he’ll be talking about in his session: why turnover is the wrong measure of a law firm’s success
This year, for the first time, the Law Management Section’s Financial Benchmarking Survey report is free for all practices. And the results show continued improvements across the market. Andy Harris explains
Financial stability is making headlines: a string of big names have declared insolvency in recent months, many after issuing profit warnings. Andrew Otterburn provides a simple guide to measuring and monitoring your firm’s financial health
The subject of succession planning is one that law firms are spending a lot of time considering, so just be aware of the implications on your PII cover, writes Jake Fox
A recent survey has revealed that over half of Britain’s SMEs are owed nearly £45 billion in late payments, placing severe strain on working capital. Steve Deutsch outlines some simple steps that small businesses - law firms included - can take now to bolster their balance sheets.
In your financial reporting, do you focus on fees and hours? If so, you’re missing a trick, according to Andrew Otterburn. Focusing on gross profit can help you with everything from gearing to pricing, and productivity to teamwork.
With fixed recoverable costs looming on the horizon, personal injury firms and departments must make a decision: adapt to survive, or stop practising in this volatile area. Zoe Holland looks at the options
Getting your business structure right will help you with everything from achieving your goals and attracting external investment, to inspiring your people and planning for succession. Mark Waddilove outlines how to make the bests decision for your business