Quarterly pulse survey report: Q1 (January to March 2022)
For the last 20 years, the Law Management Section (LMS) has carried out an annual Financial Benchmarking Survey. It’s the leading survey for medium sized and smaller firms (SMEs) in England and Wales, providing participants with a bespoke report showing how their firm compares to similar firms.
Financial Benchmarking Survey 2022 report
The Financial Benchmarking Survey 2022 presents financial performance data on the financial year from 31 March 2020 to 30 April 2021, the first full year during the pandemic with three national lockdowns.
Sting in the tail
Peter Scott examines the financial issues facing firms in the long tall of the pandemic
Hard times
Jenny Screech offers some practical tips to help ensure your PII renewal process is as smooth as possible this year
In the balance
Andrew Allen investigates how law firm balance sheets will change over the next few years
Even keel
Paul McCluskey discusses the steps law firm leaders can take to achieve financial stability and protect their personal assets
First peek
The 2021 Law Management Section Financial Benchmarking Survey will be published in the next couple of months. In the meantime, Andy Harris, author of the report, shares some of the early findings
Law firm debt and funding: is there a tiff on the horizon between firms and banks?
Andrew Allen looks at how the debt profile of many law firms has changed since the start of the COVID-19 pandemic, how this has affected the relationship between law firms and banks, and what firms can do to address their debt and funding now
Stormy skies
Andy Harris looks at the financial challenges ahead for law firms in the next few months, and what you can do to minimise the impact on your firm, including through effective forecasting
About time
Did you know that switching tasks too often could eat up 40% of your productivity? Or that lawyers typically bill only 31% of their time? Colin Bohanna looks at the value of time management – and how you can improve yours
