One of the major challenges for small firms is the compensation it can offer staff. Anecdotally, small firm compensation is typically lower than that of larger firms. Nonetheless, any lawyer — whether employer or employee — assessing proposed compensation must conduct an honest cost-benefits analysis to determine whether it’s worth working at a particular firm, large or small.
What is on your clients' minds in 2018? Having a good grasp of the latest trends and challenges impacting your clients will help you develop stronger relationships with them.
Year-end reflection is important for personal and professional development. The year 2017 saw incredible news stories filled with lessons for sole and small firms.
With the end of the year fast approaching, now is the time to review your achievements and failures of the past year. For sole practitioners and small firms without the benefit of a business management team, this exercise is critical to the future productivity and profitability of your firm.
Microsoft Word might be the most under-appreciated tool lawyers use. Most of us use it solely as a digital typewriter and fail to tap into its features designed to enhance productivity and efficiency.
With multiple infamous instances of law firm data breaches over the last few years, implementing security measures to protect electronically stored information has been a hot topic.
August 14, 2017|Web exclusive
In 2016, the federal government eliminated ways to maximize the small business deduction. Earlier this year, the government took aim at tax deferral opportunities afforded to certain professionals, including lawyers, by proposing to eliminate billed-basis accounting.
July 10, 2017|Web exclusive
Client communication is more than just a client understanding your legal advice. It also entails the client understanding the value they are getting in hiring you.
June 12, 2017|Web exclusive
Canada’s Anti-Spam Legislation, which came into force in 2014, has been a significant topic of discussion over the past few years. The upcoming end of the three-year transition period and the recently delayed private right of action that was to commence on July 1 has renewed the conversation.
May 08, 2017|Web exclusive
Last month, I wrote about the federal budget tabled on March 22 and the elimination of billed-basis accounting. This will force lawyers to recognize work in progress as income in the year it is done. The repercussions could be devastating for small law firms with a large number of contingency files and insufficient cash flow to pay the associated taxes.