The last two years have been challenging times for solicitors in London and also the legal industry in general. The difficult financial conditions had a significant effect on both individual people and businesses which in turn affected the legal industry. West London lawyers can be expensive and in times of anxiety this has proved to be no exception.
In spite of this the amount of practising UK Lawyers has increased by 7% this past year bringing the total number of registered solicitors in England and Wales to over 150,000. On the 31st of December there were 120,847 certified solicitors but on the same day the previous year there were 112,589 using the statistics released by the Solicitors Regulation Authority (SRA).
The publication of these numbers has caused a number of people to ask whether or not we now have far to many solicitors in Great Britain. Most likely the group that are most interested are those that study the vocation. There is a perception that for many law graduates, a job after university is almost guaranteed.
That perception no longer exists. Getting a law degree does not ensure anything. There are lots of reports of people graduating from internationally renowned universities with strong degrees and not being able to get a job. Some will point out that it was the economy whilst others may believe that graduate pool is saturated with inexperienced students.
Despite all this, the industry has managed to grow in difficult times which definitely illustrates exactly how strong and resilient the law industry is in the UK. However some believe that these numbers do not identify the impact legal assistants are having on the sector. There are currently 200,000 non-lawyers carrying out legal work and providing services which would have previously been done by UK Lawyers.
In the end as the global community grows smaller, global law will become an even bigger business. As international business ebbs and flows between East and West, so will the legal profession. London solicitors are in reality in a good position between the two largest markets and economies on the planet, America and China.