- Decline in legal aid.
- More competition from non lawyers offering legal services as a result of the Legal Services Act
- Banks becoming less keen on professional services due to weaker balance sheets
Traditionally law firms have not been particularly good at collecting cash in as much of the work is in progress and a focus on billable hours sometimes means that debtors do build up. So if your practice is, or you are
Experiencing cashflow problems?
You are concerned about paying your professional indemnity premiums?
worried that insolvency may affect your ability to practice in the future?
You don’t want to risk the SRA Intervention
If so then you should read our pages on help for lawyers with cashflow problems
We are currently helping 4 law firms with their difficulties. KSA Group were also one of the first firms to do a CVA for a LLP. See our presentation on the subject.