Law.com - Overseas Practices Keep British Firms Afloat

Law.com - Overseas Practices Keep British Firms Afloat
This article generates some very provocative questions about the desirability of rapid overseas expansion as a way of staving off declines in traditional markets. Interestingly, Brazil seems to be missing from the preferred growth markets with the greatest focus being in the Emirates. This seems to me to be another example of practice mobility. Put another way, the firms involved are very quickly moving resources to markets that are hot at the moment and away from those that are not. I continue to believe, however, that, long term, this could be a recipe for great trouble when the hot markets start to decline as they inevitably must at some point as competition comes on and the available pool of business becomes very tight. What are the choices then? Stay and tough it out or move on to yet another hot market? This picture does not convey a very stable picture, particularly if the firm chooses to close its office or reduce its presence dramatically.