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Practicing solicitors hit 130,000 in England and Wales

According to recent SRA figures, at the tail-end of October the number of practicing solicitors in England and Wales raised to over 130,000.

This was an all-time high but is likely to fall in the coming months following the end of the certificate renewal period in November.

It has been noted that the sudden increase is partly due to foreign students registering at the start of their course.

The SRA has also provided reasons as to why there are 941 firm closures registered in the last year. Of these 941, 220 merged or amalgamated, 367 ceased practicing and 302 changed the status. However, the SRA pointed out that a change in status does not necessarily mean that they are no longer offering legal services.

There have been notable changed in statistics over the last few years. Two years ago, partnerships were the second most common form of business structure standing at 30%. This has now dropped significantly to 25%, with sole practitioners and incorporated companies more common, currently standing at 29% and 30% respectively.

903 firms opened in the 12 months to the end of September 2013.


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