It is set in stone that lawyers profit from crises. German SMEs have undergone a stress test due to high energy costs and disrupted supply chains. Uncertainty and legal safeguards led to a high workload of SME consultants. In total, the market segment has grown by a remarkable 9 percent – even if the special economic conditions such as the defense against diesel lawsuits were hardly noticeable in some law firms.
But law firms have no time to rest on their laurels. They are threatened with fierce competition from a type of law firm that claims more market share for itself. MDP law firms such as Rödl, Ebner Stolz or Mazars score points not only because of their presence and knowledge of the regional markets. They obviously also convince family entrepreneurs and medium-sized companies with their integrated advice.
This makes them sought-after crisis advisors – and themselves less susceptible to volatile business areas. This increased self-confidence will change the segment of SME consultants. Classic lawyers who ignore this are making a mistake.