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Solicitors to expand with new status
A SOLICITORS firm which opened its first office in York earlier this year is taking advantage of new regulations allowing non-lawyers to run legal practices.
Newtons, which acquired 1,300 sq ft premises in Wykeham Road, on Northminster Business Park, in January, has become one of the first firms in North Yorkshire to gain Alternative Business Structure Status (ABS) from the regulatory body the Solicitors Regulation Authority.
Turning over £2 million from its six offices in North Yorkshire and Durham, the Newtons Solicitors group says it plans to use its new status to expand the business further, with plans to branch out into London earmarked for the future.
Managing director Chris Newton, who aims to achieve £5 million turnover with 20 per cent profitability after founding the firm with his wife Sarah, in 2009, said: “Gaining an ABS license is about running our group as an efficient commercial enterprise as we recognise that the best business people and managers are not necessarily qualified solicitors.
“Now we have ABS in place, we plan to recruit a professional finance director and, in time, an experienced managing director.
“ABS removes the barriers which could hinder our growth and enables us to better compete with larger organisations which we see entering the legal market.
“An expansion into London and further into the North East is on our business agenda together with eight new senior solicitors on the immediate horizon.”
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