Business Wales has today launched an independent research project on the future for small law firms in Wales.
The research is being conducted by Business Wales on behalf of the Welsh Government. It aims to identify the threats and opportunities presented to small Welsh law firms, gain an understanding of the barriers to growth and consider how firms can adapt to provide access to justice through a sustainable business model.
The Law Society Wales office is collaborating on the project and Business Wales has retained management consultants cpm21 to conduct the research on its behalf. cpm21 is currently seeking assistance from the legal sector in Wales with what it terms to be ‘a critically important research project by Business Wales’.
The research project has three aims:
- Firstly, to identify both the threats and the opportunities presented to small Welsh law firms
- Secondly to gain an understanding of the barriers to growth facing indigenous Welsh law firms and
- Thirdly to consider how small Welsh law firms can adapt to provide access to justice through a sustainable business model
Who should take part?
Legal practices that have undertaken the Welsh Government funded Cyber Essentials and Cyber Essentials Plus programme have already been contacted but any ‘small’ firm in Wales can contribute to this project. Ian Hopkins, a consultant at cpm21, is steering the research, in collaboration with The Law Society Wales. He explains what kind of law firm they are looking to engage with:
“For the purposes of the research project ‘small law firm’ has been defined as up to four partners / directors and turning over less than £1million, and we welcome contributions from all law firms that fall within this definition.
“Whilst we appreciate that the definition captures a high percentage of law firms in Wales, it demonstrates the importance of small law firms to the Welsh economy across all parts of Wales.”
Ian also explains what Business Wales aims to do once it is completed and why it is critical that your law firm takes part in the ‘user-friendly’ questionnaire. He added:
“The feedback received will be treated anonymously and form part of a report, with recommendations, which will be presented to Business Wales in April 2023.”
Get your voice heard
For more information or to take part, please contact Richard Jones, Engagement Manager at The Law Society (Wales) office via email: rich.jones@lawsociety.org.uk
