Research emphasises regulatory burden on lawyers
Keeping up to date with regulatory and legislative changes is preventing lawyers from getting on with their primary focus: practising law.
Research commissioned by LexisNexis (LN), shows that independent lawyers and sole practitioners feel that the regulatory burden being imposed on their businesses is a major business issue: 83% of those surveyed for this first LN Bellwether Report, Survive or Thrive?, said that meeting the demands of compliance is one of the biggest challenges they face. Despite this, however, seven out of 10 respondents would not swap their independence to work for a large law firm.
Nick West, LexisNexis director of legal markets, commented: “We expected that securing new business and dealing with the economic downturn would be some of the toughest challenges for this sector. What is more disturbing is that something the government can control is getting in the way of a healthy legal sector.”
To get your free copy of the report, visit: www.lexisweb.co.uk/blog/businessoflaw/BR
