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Law firm confidence at a high

19th November 2014

Business confidence among law firms is at its highest since the recession

The latest study from accountancy firm Smith & Williamson has found law firm business confidence at an eight-year high. The figures come from that of the firm’s 20th annual law firm survey and found confidence to have risen from 82 percent in 2013 to 96 percent this year. 

While the study found business confidence among law firms to be near to that of pre-recession level this confidence is off-set against increased competition in the field suggesting legal recruitment agencies in London to be as sought after as ever in order for candidates to stand the best chance of recruitment.

Firms have supported this thinking by stating in this article that they are most likely to invest in organic growth and lateral hires as a result of this increased optimism. While cash flow and fees is still expected to be an issue, overall confidence among law firms, particularly in London where just over a third of respondents are based.

Image Credit: Nikos Koutoulas (flickr.com)