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Small firms make gains in recession

 

big-dog-little-dog

No surprise to this big firm refugee, but a new study by a legal recruiter confirms that the recession has helped drive Fortune 500 clients tosmall, midsize and boutique law firms. “Because of their lower overhead and operating costs, small firms can offer the same legal services for significantly less than large firms. This makes both new and established small firms attractive to cost-conscious clients,” according to the report from Robert Half Legal, “Future Law Office: Delivering Maximum Value in a Cost-Conscious Legal Era.”

Providing large-firm expertise at small-firm rateshas become even easier because many small and midsize firms have picked up talent that was unavailable to them before the recession. This has helped arm boutique firms with the capability to serve middle-market companies that can’t afford big-firm rates.  Technology, of course, has also leveled the playing field, allowing small firms to compete with their bigger brethren.

Small is the new big.  Only more efficient and more responsive.

By the way, Minnesota CLE’s Solo and Small Firm conference will be August 1-3 in Duluth.  See you there.

Hat Tip: Larry Bodine

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