Hi
@icebear
Completely appreciate the challenges of answering a question like this. As
@Andrei Radu mentioned, you could definitely take either approach. However, I'd recommend trying to discuss current challenges in a way that is really bespoke or tailored to the firm. Having briefly researched the firm, it appears they have a strong reputation in sectors such as infrastructure and agriculture/rural affairs. They also seem to have a great regional presence alongside their place in London. I think finding news stories/challenges that are likely to be faced by a firm with similar features could making for a convincing answer. I've mentioned some challenges below (including links where appropriate) that you might want to consider.
One issue/challenge you could consider are some
ongoing delays in major projects. The UK government recently established the National Infrastructure and Service Transformation Authority (NISTA) to address these delays, which have been increasing costs and causing significant uncertainty for investors.
Pinsent Masons recently did an excellent summary of how these changes are likely to affect firms and their clients here, which I'd encourage you to give a brief look at. Additionally, you could discuss the
rising cost of construction materials and labour shortages are pushing project costs up or
Government Investment and the Levelling Up Agenda which are all very current issues that pose a mixture of opportunities and challenges for clients at firms such as Michemores.
Given the firm's strong regional presence, you might also want to tie an issue back to this aspect of the firm. For instance, EY did this really
interesting report here about how significant government variation in spending is affecting projects and infrastructure issues differently in various parts of the country. This creates a unique set of challenges, especially for rural and regional businesses that Michelmores is deeply connected to through its offices in cities such as Bristol, Cheltenham and Exeter. The firm could be particularly well-placed to help clients navigate these sorts of more "current" challenges.
Again, these are just suggestions. But you can consider framing your answer by highlighting Michelmores' strong reputation in key sectors, such as infrastructure, while also emphasising its unique national footprint. By tying the answer to Michelmores' strengths in specific areas, like their work with clients in rural regions, you can make your response more tailored to the firm.
Good luck with your application!