Alternative business structures have made the biggest impact in the area of personal injury, accounting for one third of all turnover in the personal injury marketplace. ABSs have also captured a significant percentage of turnover in mental health, consumer and social welfare.
New research carried out by the Solicitors Regulation Authority on ABSs also revealed that of those applying for ABS status, 40 per cent were existing law firms which said they were significantly changing their practice.  One in three were ‘new entities’ whilst 11 per cent were also described as ‘new’ but associated with an existing firm. One in four had used the structure to change the way they financed the business and one in five said they were now offering different or additional services to their clients. Two in three said they had provided or attracted new investment into the firm, with the most common areas of investment being techonology, marketing and changes to the way legal services are delivered. Source: SRA