Law firms are markedly more confident that they will achieve their annual financial objectives this year than they were in 2020. While last year was unique in many aspects, 2021’s improving economic conditions, in addition to more stable billable hours, are likely the biggest contributing factors to this increased optimism.
According to Bloomberg Law’s 2021 Law Firm Benchmarks Survey, 82% of respondents are at least somewhat confident that their law firm can achieve its financial goals for the year, as opposed to 62% of respondents to the 2020 Survey—a 20 percentage-point increase.
Delving further, the numbers are even more ...
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