Industry Analysis & Industry Trends
Solicitors, barristers, patent agents, notaries and bailiffs carry out legal activities on behalf of private and corporate clients. Over the five years through 2016-17, the industry is expected to grow at a compound annual rate of 0.5%, with revenue being supported over the period by a rise in the number of UK businesses, as well as a spike in merger and acquisition activity and equity capital raisings in 2013-14. In the current year, revenue is forecast to decline by 7.7% to £29.9 billion as uncertainty brought about by the EU referendum result is expected to depress business confidence and activity for the year, constraining industry demand. This is expected to significantly decrease the compound annual growth rate of the industry over the five years through 2016-17... purchase to read more
Industry Report - Industry Locations Chapter
Most establishments in the Legal Activities industry are small or medium in size and are spread out across the United Kingdom. Industry activity follows the general distribution of business activity and population. However, London’s dominance heavily skews the results.
Industry establishments are highly concentrated in London, where 37.8% of total industry establishments are found. London is the headquarters for most of the largest law firms although many have since expanded into global law firms. London is a corporate and financial hub, home to a large number of global and European head offices and the activities of the City are a significant source of demand. Con.. purchase to read more