header-logo header-logo

Small firms unprepared for Brexit

13 March 2019
Issue: 7832 / Categories: Legal News , Legal services , Brexit
printer mail-detail
Fewer than one in ten solicitors at small law firms have made contingency plans for Brexit, according to the latest Bellwether research paper

The paper, ‘The Luxury of Uncertainty: Inaction in the face of Brexit’, published this week by LexisNexis UK, highlights overwhelming inaction to prepare for the UK’s departure in two weeks’ time. A further 20% of the 176 solicitors at small firms and small offices of large firms surveyed intend to make contingency plans in the next year or two, once the UK has left.

Despite their seemingly relaxed attitude, however, nearly half (47%) of those surveyed say they are worried about the instability of Brexit and the threat it will pose to their business.

‘Clearly, the uncertainty surrounding Brexit is a key factor in lawyers’ reticence to take concrete preparatory measures,’ said Jon Whittle, market development director, LexisNexis UK.

‘It is of course understandable as there is little clarity on what the future will look like. There is frustration among lawyers about not knowing what will happen down the line, however the industry isn’t complacent—instead, it seems that the mental bandwidth of those involved is overwhelmed by the industry specific challenges—ones they have been struggling to deal with for years already and are still significant today.’

Moreover, ‘independent lawyers have taken a “wait and watch” approach on the basis that their business is primarily UK-centric,’ Whittle says. About 95% of the work handled by the solicitors surveyed originates within the UK, and only one in five of the respondents have any legal involvement abroad.

Whittle adds, however, that ‘there is a business rationale for having Brexit contingency plans in place to at least limit unnecessary blows to the business in the long run. Brexit isn’t a momentary event, it will unfold through the transition period’.

More than a quarter of solicitors surveyed think Brexit will create opportunities for their firm, and nearly two-thirds (72%) say their firm actively embraces change. Overall, 91% of solicitors are confident about the future, while 78% think there may be rough times ahead but they will be able to adapt.

Issue: 7832 / Categories: Legal News , Legal services , Brexit
printer mail-details

MOVERS & SHAKERS

Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

NEWS
Robert Taylor of 360 Law Services warns in this week's NLJ that adoption of artificial intelligence (AI) risks entrenching disadvantage for SME law firms, unless tools are tailored to their needs
The Court of Protection has ruled in Macpherson v Sunderland City Council that capacity must be presumed unless clearly rebutted. In this week's NLJ, Sam Karim KC and Sophie Hurst of Kings Chambers dissect the judgment and set out practical guidance for advisers faced with issues relating to retrospective capacity and/or assessments without an examination
Delays and dysfunction continue to mount in the county court, as revealed in a scathing Justice Committee report and under discussion this week by NLJ columnist Professor Dominic Regan of City Law School. Bulk claims—especially from private parking firms—are overwhelming the system, with 8,000 cases filed weekly
Charles Pigott of Mills & Reeve charts the turbulent progress of the Employment Rights Bill through the House of Lords, in this week's NLJ
From oligarchs to cosmetic clinics, strategic lawsuits against public participation (SLAPPs) target journalists, activists and ordinary citizens with intimidating legal tactics. Writing in NLJ this week, Sadie Whittam of Lancaster University explores the weaponisation of litigation to silence critics
back-to-top-scroll