Bellwether report: future market perceptions 'bullish'
Lexis Nexis' latest report suggests firms are feeling confident, though rising cost of PII is a concern
Lexis Nexis Legal & Professional has released the latest Bellwether report ‘Small law in the pandemic: The good, the bad and the new’. 31 per cent of firms have outperformed profit expectations since the pandemic. Future market perceptions are “bullish”; 93 per cent have confidence in their firm’s future – higher than pre-pandemic scores. However, 70 per cent also acknowledged there will be tough challenges ahead. 66 per cent said the rising cost of professional indemnity insurance was the biggest threat to their business.