Despite volatility in the market during the last 12 months, law firms have successfully managed to expand and increase their revenue, Roca Junyent managing partner Joan Roca says.
“It´s been a positive year, we have all grown our turnover, it’s been volatile but we have achieved growth without having a comfort zone,” he adds. Roca says that activity in the real estate, tourism and hospitality sectors has been instrumental in driving increases in revenue.
The character of businesses in the Barcelona market has also undergone a significant transformation, according to Roca. “Our companies have gone global,” he adds. Meanwhile, Roca says that foreign funds are now looking for opportunities in Spain.
Mergers and acquisitions are generating a lot of work for law firms in Barcelona, while there has also been significant activity in the biotechnology sector, Roca says. In addition, tech start-ups are also providing opportunities for legal work. However, the volatility in the market means that lawyers face a number of challenges, according to Roca. He says that lawyers will have to adapt to a situation where they have to change practice areas. “We have to reinvent ourselves.”