SRA state of the union
The SRA has published its latest set of key industry data.
They revealed that there are currently 127,109 practising solicitors in the UK, up from 124,306 this time last year.
In September there was a sharp rise in the numbers of admitted individuals due to training contracts usually finishing around July/August.
There were 2342 newly admitted, of which 2179 have subsequently been granted a practising certificate.
As part of a bulk termination exercise, where all those who has not been renewed were revoked, 4435 practising certificates have been revoked since the end of May.
31% of firms in operation are sole practitioner firms, 27% partnerships and 26% limited liability partnerships.
Legal disciplinary practices (LDPs) were introduced in April 2009. They can be owned and managed by a combination of different types of lawyer, and up to 25% non-lawyers.
As at the end of September 2012, 495 firms had taken the opportunity to introduce other lawyers or non-lawyers to their management teams.
Over the last year this figure has increased 3%. Over the year pre-August 2012 a total of 1001 firms opened, while 335 closed.