The SRA’s recent debt recovery price publication rules can only be a good thing for businesses and the legal debt recovery sector, those that don’t think so and still see debt recovery as a dark art and include “how long is a piece of string.......” in their standard on-boarding script will need to change. The market has just got clearer to all and as a result that means more competitive too. That isn’t to say price is everything how effective, especially with a debt recovery service which is easily measured by the result - remains the main objective for both law firm and client.
Research we have published found that 42% of small businesses shop around online when in need of professional legal support, with 75% saying they would do this even more if more information was available on firms’ websites. The research also revealed that small businesses think solicitor firms are more expensive than is really the case and that firms would be a more attractive option if they published prices.
https://www.sra.org.uk/sra/news/press/transparency-rules-2018.page
unknownx500
