The survey, now in its eighth year, provides a snapshot of the UK legal market, including large and small firms. It found the proportion of regionals who grew their top lines rose to 78% from just 71% in 2018, almost recovering to reach the 80% seen in 2017.
Just under half (47%) of regional firms enjoyed growth in profit per equity partner of more than 10% and the overall growth rates for regional firms were higher than those seen in the City, a reversal of last year’s position.
Ross Prince, partner at Crowe, said: ‘Despite a concern for the UK’s economic future, regional firm participants show self-confidence, with 80% of participants reporting a positive or very positive outlook for their firm in the year ahead.’
Both City and regional firms surveyed cited talent retention and the threat of fraud and cybercrime as their top two concerns for 2020.
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