Andrew Woolley on Practice Management

Alternative Business Structures and the end is nigh?

Have we actually heard anything that will happen with Alternative Business Structures (ABS) except from commentators such as I? Certainly I've not heard that Virgin Tesco or similar will enter the market. But I think they will. I also think that large competitors perhaps large financial services businesses banks and accountants will see the benefit of picking up certain types of work.

Will they do family law? I like to think not as surely they would upset about 50% of their customer base being the opposing spouse. But it will allow it seems businesses like Divorce Online to do the defended and ancillary relief work too. 

But in general I fear these things will happen:

- The end of smaller firms within 5 years especially the inefficient medium sized "we do everything" types.

- Note how there used to be an insurance broker on every street - not now....

Read the full article here.