A roller coaster on repeat.
That is how some have characterized the overall global economy for much of the past two years. .
KEY FINDINGS
Despite many challenges, leaders of small law firms generally view their firms as successful and approach 2022 and beyond with a positive overall outlook
• Small law firms are increasingly concerned about the administrative burden placed on them and the impact that has on their ability to practice law
• Acquiring new client business remains a top concern for many small law firms, continuing a years-long trend and highlighting opportunities for quick gains
• Recent history shows that a concentrated and determined approach to addressing challenges such as not getting paid by clients can result in quick, positive improvement
• While the pandemic will undoubtedly have lasting effects for small law firms, many of the most drastic responses have already started to reverse and firms have largely recovered from the downturn.