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How law firms operate commercially

Onsite training on a law firm as a business


Delegates will consider the challenges facing law firms and how to meet them through strategic planning and financial management.

Using a model firm, delegates will examine the key drivers of profitability and the importance of managing cash flow.



As a result of attending the course, you will:

  • understand how law firms operate as commercial entities
  • appreciate the importance of strategic planning
  • understand financial data and key performance indicators and how your actions affect profit and cash flow
  • recognise the importance of managing WIP and debtors
  • develop your commercial awareness of the legal sector
  • contribute more effectively to the day-to-day operations of the firm




  • The challenges facing law firms
  • Planning tools


  • How are law firms funded?
  • Reporting financial performance
  • Key performance indicators and benchmarking

How do law firms generate profits?

  • Gearing
  • How much to charge
  • Recovery
  • Margin

‘Cash is king’ – the importance of managing cash flow

  • Cash flow forecasting
  • Lock-up explored
  • Managing WIP and debtors
How law firms operate commercially training slide

The course uses quizzes, exercises and case studies to ensure the training is interactive and engaging.


3 hours



Maximum 20 per course


Doug Robinson

To discuss how we can help call Linda Moran on 0114 273 8300.