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Growth should be embraced not feared. Providing we as an industry are adjusting our working practices to respond to a changing legal landscape, there is no reason why firms cannot continue to thrive. Profits are not just dependent on fees – embracing technology and innovative ways of working reduces overheads and ensures not only a better service for the client but a more cost-efficient one too. For consultant-led firms like Setfords it is of course an easier proposition to deliver high-end legal services at an agreeable rate, but for both modern and traditional law firms the same rules apply regarding the need to evolve, be that in how we operate or our ability to deliver specialised legal services. For example, cyber law is fast becoming a required specialism for law firms as companies grapple with new legislation, new technologies and changing political landscapes. If you have the foresight to put such specialists in place you open up an entirely new market. Law will always be a popular profession; intellectual stimulation, progression, challenge and potentially high financial reward. Long may that continue and we should embrace all those who wish to join us.

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