This is difficult to see too many Solicitors’ practices close throughout the aftermath of the financial crisis. Over the last twelve to eighteen months several prosperous and well-established businesses have collapsed, mostly as a consequence of the property market meltdown. Several companies were also forced to close in October last year when they were unable to obtain professional indemnity protection. Kent has the greatest number of independent law companies in England than any other county. It’s provided with a variety of small High Street businesses providing consumer preference, competitiveness and local access. While most companies have endured it is unclear how many more businesses could perish after this year’s Legal Services Act comes into force. If you’re a qualified member, the act’s name typically fills you with dread; if you’re a person of the public, you’ve never heard about it. click to read more about legal service.
The Legal Services Act would allow all sorts of large organizations such as retailers and banks to provide legal services to members of the public, the kind of legal services usually only accessible through the practices of attorneys. The point is that this will provide more options and cheaper prices for the consumer. If that were real, though, the High Street would get awash with cheap, bustling local supermarkets. Instead, as we all realize, supermarket chains except between supermarket chains have eliminated rivalry. Your local grocery store no longer exists (unless it’s owned by Tesco, of course, and has the term Metro in its title) and many greengrocer and butcher fail to thrive.
Solicitors are currently asking themselves would Tesco be selling two divorces at one time and will they be providing Clubcard points with that? It’s only time to tell. And the rates, then? There’s a lot of competition now but that doesn’t turn into higher public rates. Size economics mean that Sainsbury, Tesco and the like will be willing to deliver professional advice at a far cheaper rate than is actually offered in the work of the own lawyers. However the public will question themselves who is going to do my job, are they going to be eligible and will I ever get to see them? Finally, what occurs when there are no small law firms left; the price will go up when there is no competition?