Alternative business structures

Kent County Council, which tendered for a joint venture partner to set up alternative business structure last autumn, has narrowed the list of potential candidates to one, it has emerged. The bidder will make a presentation to Kent’s commissioning advisory board in early September.

A former high-flying banker, who worked at Lehman Brothers before the crash, has told Legal Futures how he developed a plan to set up a pioneering alternative business structure while travelling in Vietnam. Zahid Hussein said he wants Z Group to be an integrated one-stop shop for SMEs.

Legal regulators have called on the government to make a series of changes to the Legal Services Act that will make it easier to approve and regulate alternative business structures. The move is part of the first output from joint work being done by all of the legal regulators to identify opportunities for deregulation.

The number of accountancy firms authorised or licensed by the Institute of Chartered Accountants in England and Wales (ICAEW) to provide probate services has passed 100. The ICAEW has predicted that it will reach 200 by the end of the year.

In its first trading statement since listing on AIM last month, national law firm Gateley said that it expects its 2014/15 revenue to rise 10% on the previous 12 months. Meanwhile, the listing “shows a new way forward in opening up the market through flexible regulatory practice”, the SRA said yesterday.

A mutual marine liability insurer covering the smaller vessel sector has launched an alternative business structure to service member and non-member clients, with the object of reducing claims and not generating profit.

The goal of promoting innovation and diversity in the provision of legal services through the introduction of alternative business structures “has been realised”, joint research by the Legal Services Board and Solicitors Regulation Authority has concluded. Across the market, innovation is used to extend service range, improve service quality, and attract new clients – but is “not typically used” to lower costs.

An ambitious Merseyside practice has obtained an alternative business structure licence as part of plans to start a round-the-clock “concierge service for SMEs”, and to kick-start its overseas expansion into southern Spain, targeting the British ex-pat community.

North-west personal injury firm Thorneycroft Solicitors has been granted an alternative business structure licence by the Solicitors Regulation Authority as part of a major restructuring of its operations.

A major international consultancy specialising in research and development grants and tax credits has launched an alternative business structure to offer a wider range of employment law services to its SME clients.