A Harrogate law firm is defying the legal sector malaise by generating 75 per cent growth in the last 12 months.
Newtons Solicitors, Knaresborough, founded during the 2009 recession, has increased turnover to £1.04m in its latest year-end accounts.
After starting out as a home-based virtual law firm, the business now has 25 staff, operating across the mainstream legal services spectrum, based in offices in Knaresborough, Harrogate and Ripon and has plans for further expansion.
Managing director, Chris Newton, said:
We are delighted with our results. We are investing heavily in our people, systems and marketing to build a strong business delivering a quality service which the local community can have real confidence in.
There is a buzz about our company and part of my job is to keep us on the crest of that wave. This is helping us to attract new work and we are also being contacted regularly by talented lawyers who see a bright future with Newtons and want to join us.
With our current team, our turnover for the next financial year is on target to reach £1.2m. However, we have several new recruits and acquisitions in the pipeline, which should take us to around the £2m level.
Our medium-term plan is to achieve a £5m turnover business by opening in more Yorkshire towns and cities, with York and Ilkley currently on the radar.
The growth has been driven mainly through its property and litigation departments, although broader service areas. including company commercial, employment, family and wills and probate service, are now catching up.
The company, which is also seeking merger and acquisition opportunities, is recruiting lawyers, secretaries and administrative staff every month. Also, as part of its long-term growth strategy, Newtons is looking to to offer jobs to apprentices.
Newtons Solicitors’ growth has been recognised nationally by entrepreneurs’ publication, Real Business Magazine, which listed it as one of the top 50 most exciting businesses in the country.