Boutique Firms Doing Well in Poor Economy

Conventional wisdom has it that in an economic downturn large law firms fare better than tiny boutique firms because of their diversified practice areas – when one area Is not doing so well, structured finance or real estate for example, complimentary areas of practice, bankruptcy for example, will help balance things out.

Some boutique firms are not faring well in this economy, but others are prospering.  Boutique firms generally have lower overhead costs than large firms, little to no major debt, more flexibility to accommodate clients looking to cut their legal costs and lower billing rates overall.

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