The UK legal sector continues to be hugely important within NatWest. We have a long and proud history of supporting legal firms throughout the UK, helping them develop successful and sustainable businesses.
I’m delighted to present our ninth edition of the NatWest Legal Report. This year PKF Francis Clark have been commissioned to write the report. I’d also like to recognise Robert Mowbray for his vital contribution and ongoing development to the NatWest Legal Report in prior years. I’m incredibly grateful to all the firms who’ve contributed and provided insights that will help others within our sector during these challenging times.
Our report focuses primarily on firms that operate at the SME level across England, Scotland and Wales. By comparing the financial performance of firms from across the UK, we’ve identified some interesting trends and valuable insights. Firms can use these findings to target areas of improvement, with the aim of enhancing profitability and management of working capital.
I think the challenge for everyone in the current environment is finding the time to focus not just on the immediate now, but also on longer term vision, thinking about sustainability in its widest sense and having a future proof mindset – which, ultimately, I believe helps build better businesses as a result.
With this in mind, we’ve concluded this report with a top tips for business success and growth, which we hope will give you a useful framework to help navigate challenges and leverage new opportunities to pivot, innovate and grow your business.
It’s encouraging that despite the recent and ongoing challenges, the legal sector continues to show remarkable resilience, with many firms demonstrating record profitability in the last three years.
I hope you enjoy this report.
Download the full report here.
