The Business Exchange Bath & Somerset Issue 26: Winter 2022 | Page 13

ADVERTISING FEATURE BUSINESS REVIEW OF THE YEAR

The law firm Thrings has supported businesses and individuals through a challenging year while successfully growing its own business in Bath , Bristol and beyond . Simon Holdsworth , Managing Partner , reflects upon the challenges of 2022 and discusses how flexibility , strong relationships and collaboration will be the keys to resilience during the year ahead .

What is your take on the events of 2022 ? Nobody would argue that it ’ s all been plain sailing ! We all went into the year still feeling the effects of the pandemic , the fallout from Brexit , and then came international events and domestic political and economic turmoil .

Like a lot of the businesses and individuals we work with , we had decisions to make and had to think carefully about what our clients and our firm needed to not just survive these challenges , but to thrive .

We were able to build on strong foundations with a focus on five sectors – agriculture , business growth , private individuals , development of land , and banking and finance – really playing to our strengths . That has been a real driver of growth in our business .

Covid taught us that businesses which adapt and learn quickly are best placed to grow , and that is the experience we have been able to bring to our clients . We have shared their ups and downs and understand the opportunities and challenges they face . That leaves us well placed to support them .

For our firm , a significant event during the year was the merger of Thrings with another firm , Okells FrancisLaw , based in the Wye & Severn Valleys . This has enabled us to develop a new geographical market , with the Okells team complementing our strong reputation for supporting farmers , rural landowners and agricultural businesses .

What should businesses focus on to overcome the challenges ahead ?

For businesses and individuals , building resilience is so important – and that means having the right foundations in place . During the pandemic we have seen the way that businesses have come together and looked to support and truly collaborate with each other . Building on those relationships and continuing the openness to collaborate will undoubtedly help going forwards .

The success of our Business Growth Hub has confirmed to us the benefits of supporting businesses in the long term , not just for individual transactions or projects . It ’ s been a fantastic platform to share expertise and collaborate across all business sectors . We know we have an incredibly loyal client base because we invest in genuine , lasting relationships , talking to them regularly to understand their pain points and help them to grow .

An important element in building that resilience is to focus on your people – our experience is that if you help your teams to flourish , the rest will follow .

At a time when recruitment and retention is difficult , we have made 31 promotions over the past three years , including six new Partners and a Legal Director . We bring people in to complement our teams and add new skills and experiences , but our focus is on developing our home-grown talent . This has built a strong internal culture which our clients benefit from .

Part of that has been a look at how we work , post pandemic . We recognise that not all businesses are like us , but we have seen clear benefits of the hybrid model , with our people encouraged to be in the office two or three days a week to collaborate with colleagues , and to work remotely at other times when it is suitable . Our approach is always to prioritise what ’ s best for the client , what ’ s best for the team , and what ’ s best for the individual .

Finally , what are your plans for 2023 ? For us the coming year will be about continuing to focus on our five core sectors , and supporting our people and empowering our clients to succeed in what will no doubt be another challenging year .

I think there is a sense that continued collaboration will be a huge strength – we ’ ve seen through our Business Growth Hub how important this is .

There will always be competition , but I see real opportunities when people come together , supporting each other , and equipping them for whatever comes round the corner . That ’ s the approach that clearly works for us .

During the pandemic there was a lot of talk about us all being in it together – and we must not forget that we still are .

“ During the pandemic there was a lot of talk about us all being in it together - and we must not forget that we still are .”

Visit Thrings online at : www . thrings . com

THE BUSINESS EXCHANGE 2022 13