Research from the accountants shows a 4% rise in turnover for small and medium sized law firms located in London and the south east of England. Firms with turnover of between £20m and £35m saw growth averaging 10%.
Lending on the increase
Paul Beber, partner at HW Fisher, said: ‘Short-term lending to legal businesses is on the increase with a debt on the books of almost nine out of ten firms. With the threat of interest rate rises looming, any firm that becomes dependent on such borrowings could find themselves in a downward spiral that is difficult to recover from.’ Source: Lawyer Monthly
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