A recent survey had revealed that levels of work for Scottish legal firms have increased since early lockdown, but turnover is yet to recover to pre-pandemic levels.
The Law Society of Scotland published its second survey into the financial impact of Covid-19. The original survey was carried out in May, with the second survey showing some signs of recovery.
- 70% of firms interviewed reported a reduced turnover, compared to 90% in May
- 55% noted a reduced cashflow, compared to 84% back in May
- 45% of respondents in October said their firm had a recruitment freeze, compared to just over 60% in May
President of the Law Society of Scotland, Amanda Millar, said:
“While private practice firms are seeing an increase in business compared with the start of lockdown, we’re still a long way off seeing the sector recover to pre-pandemic levels. Much of the work which is now coming in has simply been displaced from those long weeks when nothing was moving.
“Solicitors play a vital role in their communities and continue to help thousands of individuals with legal issues and in upholding their rights, including some of the most vulnerable people in our society. The legal sector also makes a significant contribution to Scotland’s economy and supports local, national and international businesses located across the country. Support is still very much needed for the sector to ensure the sustainability of law firms into the future.”
The original survey was carried out with senior solicitors from over 150 private practice law firms in May 2020. The same participants were approached for this second survey, of which 128 responded before the closing date.