HomeNewsChanging ‘Rules of the Game’: which independent Benelux Law Firms will take up the Challenge?
Changing ‘Rules of the Game’: which independent Benelux Law Firms will take up the Challenge?
by Gerard Tanja and David Temporal
Since the financial crisis of 2008 various firms have been confronted with reduced fee growth and lower levels of profitability. The next few years do not look any better with the sovereign debt crisis, slow economic growth and continued pressure from clients for better value for money.
It is likely that we will see rather modest growth levels at best across the market in the next few years as the economic outlook remains uncertain. Only firms with a clear strategic focus, a compelling and distinctive value proposition targeted at the most prized and profitable clients and superior service delivery will differentiate themselves and to create a winning edge.
The differences between winners, stayers and losers among firms will become extremely clear in the future as growth of the market will be insufficient to accommodate the growth requirements of all existing firms.