Continued economic uncertainty will have significant implications for businesses and the law firms that work with them in the year ahead. Based on our conversations with clients through our work at the intersection of law and finance, in this article we review key trends to anticipate in 2024.
Businesses Facing High Cost of Maturing Debt Will Seek New Finance Solutions
As 2024 fast approaches, the cost of debt remains high. The consequences are especially significant for those businesses that took on meaningful debt when rates were low and now face the challenge of raising more capital while servicing existing debt in a climate of continued high interest rates and tightening commercial lending terms.
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