Law Soc's annual stats survey reveals declining numbers
updated on 03 May 2013
The Law Society has published its Annual Statistical Report, which seems to suggest that the pressure on practising solicitors is beginning to show. Both the number of firms and the number of private practitioners has decreased for the first time ever, while the number of admissions and training contracts are down to the lowest they have been since 1999.
Among other things, the survey revealed the following:
- The number of practising certificate (PC) holders increased by just 0.25%, relative to July 2011 - well below the average annual growth rate of 3.6%.
- The number of PC holders working in private practice was 87,768 in 2012, compared to 87,973 in 2011.
- The number of private practice firms fell from 10,202 in 2011 to 10,102 in 2012.
- The number of training contracts registered in the preceding 12 months dropped from 5,441 to 4,869.
Desmond Hudson, chief executive of the Law Society, said: "There is fiercer competition in the legal market than ever before and many of the assumptions that have underpinned the nature and status of practising as a lawyer are being challenged in this difficult environment. Tough economic conditions combined with legal services liberalisation, changes to legal aid funding and the civil costs regime are having a major impact on the business models of many firms. Law has become a highly competitive and fast-moving business environment."
However, he went on to introduce a note of hope: "Despite this confluence of challenging trends, there are opportunities for dynamic, innovative and well-managed firms to thrive. It is the function of the Law Society to help solicitors and their practices rise to the challenges, so that businesses and consumers in every corner of England and Wales can continue to obtain high quality legal advice and support from a solicitor."
For more detail, read the executive summary.
