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Too few firms invest in company culture Too few firms invest in company culture Share A concerning number of SME law firms in Australia are failing to make sufficient investments in culture as part of the business’ strategic growth, new research has found. Cloud-based legal practice management software business Smokeball has released its State of Small Law Australia Survey, for which it interviewed 134 small law firms across Australia in February 2021, and found that a concerning number of SMEs are not taking enough time to improve their cultural environments. Lack of investment The interviews found that three in four (77 per cent) of SME law firms – which, as the 2020 National Profile of Solicitors noted, are the overwhelming majority of legal practices in Australia – see good culture as a strategic benefit for the business, given the flow-on consequences of increased client satisfaction, improved productivity, and business growth. Just one-quarte ....
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Fixed fees reaping rewards for smaller firms By Jerome Doraisamy|27 April 2021 SME law firms are witnessing an increase in requests for fixed fees, as well as greater profitability – and the future looks bright for charging in such a fashion, too. Australian cloud-based legal practice management software Smokeball has just released its State of Small Law Australia Survey results, for which it interviewed 134 small law firms across Australia in February of this year. The results, the provider noted, show that there is a substantial increase in clients asking for their matters to be done by way of fixed fees, and that the outcomes for law firms are more profitable. This movement towards fixed pricing isn’t necessarily segmented to particular practice areas and niche boutiques, either – respondents are seeing fixed fees in practice areas across the board, from family law to litigation, conveyancing to wills and estate planning. ....