According to a Kyiv Post peer survey conducted this month, more than half of the 90 law firms polled appeared on the local market in the 2000s. As the nation’s business environment evolved over the last 15 years, law practices and their clientele grew in tandem.
Even the 2008-2009 financial crisis – from which the Ukrainian economy hasn’t quite recovered – didn’t prevent new firms from entering the market. Times of crisis, says Olga Usenko, chief editor of the Ukrainian Journal of Business Law, also offers opportunities for skillful lawyers, such as in mergers and acquisitions and bankruptcy.
Yet small law firms with no more than 15 employees manage to draw big corporate clients, and with it, decent earnings. They usually avoid the more competitive sectors of M&A, corporate, and tax law.