Over 40% of law firms are looking to merge with or buy another business in the next year to defend against competition according to information released yesterday. This is a striking increase from last year, brought on by increasing competition and firms wanting to increase their service offering to customers to distinguish themselves from competitors. “The right acquisition combined with an effective strategy can help firms to scale up and develop market presence” said Giles Murphey, head of professional practices at Smith & Weston. Noticeably, 93% of firms were confident about the year ahead suggesting Brexit is not damaging confidence in the legal profession as much as feared.

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