In a recent survey, as part of the Scottish Business Monitor Q3 2020, over a quarter of Scottish firms have said they will permanently cut office space as a result of home working. However, only around 10% have indicated that home working has improved productivity.

Around half of respondents said that home-working has worsened productivity, with more than half saying that home-working makes it challenging to collaborate, innovate and manage.

20 percent of firms said they planned to reduce staff. However, the survey was carried out between 12 and 22 October – before the announcement that furlough would be extended until the end of March.

Almost 40% of the firms surveyed reported that they felt insecure about their cashflow, as restrictions on business activity continue through winter.

Tom Speirs, of Addleshaw Goddard (the survey’s sponsor) said:

“Despite the general feeling of apprehension within Scottish business, a significant share of businesses feel secure about their finances and are not overly concerned about credit availability in the coming months.

“Although many organisations will have to make difficult decisions in the months ahead, we are optimistic that we will soon be working towards a robust recovery.”

We previously recorded some podcasts which both firms and individuals may find useful at this time.

Our series of online strategy for law firms in times of crisis with Moore Legal Technology:

Personal finance planning for Lawyer with Fergus Muirhead:

Read the full report here.

We would be delighted to hear from anyone in the legal sector or beyond who may have advice or guidance for law firms struggling with increased remote working, cash flow or other practice management matters. please get in touch: hey@heylegal.co.uk

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