����Ӱ��

A recent report from ����Ӱ�� explores some of the most effective ways in which legal professionals can grow their business. But how can barristers in particular develop their practices and how can chambers expand their sets? Let’s take a look below.  

Legal tech 

Barristers can take advantage of an ever-increasing range of legal software products and services designed to enhance their efficiency and streamline routine processes. Although chambers experienced a variety of challenges over the pandemic, the series of lockdowns acted as a catalyst for the adoption of legal tech. The past couple of years encouraged barristers to fully embrace technologies such as videoconferencing, cloud storage and practice management systems. 

Harnessing legal technology frees up the time of barristers, allowing them to take on new clients. For example, meeting a client by videoconference avoids time wasted travelling, and sharing documents online can assist with collaboration. Time saved also means that chambers can bring in new pupils, as senior barristers will have more time to spend training them.  

Business development 

The clerking teams in chambers are increasingly tasked with promoting their tenants and building a brand. Business development managers (BDMs) are becoming commonplace in the larger sets such as Serle Court and 4 New Square, who help to build to relationships with solicitors and other clients. 

Individual barristers will normally be required to market themselves in smaller chambers, where the presence of a Silk will be a significant benefit in terms of attracting new clients. Taking advantage of networking opportunities can be particularly helpful, as well as providing comment on news stories and publishing articles on their areas of expertise, to help build reputation. 

Client relationships and referrals 

Strong client relationships are vital for the organic growth strategies of barristers’ chambers. Barristers at all levels can help to build client relationships by keeping in touch, attending relevant trade events and joining industry bodies.  

It can be helpful to obtain feedback from clients to better understand how to improve the client experience. 

Silks and senior barristers will often be able to supply work to juniors through their own contacts. They will sometimes also have referral arrangements with litigation firms, which can benefit both parties. For example, a barrister who refers certain matters to a litigation firm may, in turn, be instructed by the law firm to cope with increased workloads during busier periods. 

Alternative funding 

Some larger legal businesses have supercharged their growth by embracing alternative structures. Knights and DWF have floated on the London Stock Exchange. Whilst an IPO for most barristers’ chambers is unlikely, alternative business structures are possible. For example  has completed an innovative portfolio financing and equity transaction with Burford Capital. 

Commenting, Anthony Riem, Partner at PCB Litigation, said: “Funding and risk sharing are fundamental to moving forward." 

Growth at the Bar

posted record turnover figures for the year 2021/22. Chief executive, Jonathan I’Anson, said that growth was partly achieved as a result of continued investment in legal technology, and also by “attracting the highest quality work and the highest quality barristers”. 

One of the s in recent years has been 3 Paper Buildings, boasting a tenant headcount growth of 33.7% from 163 to 218 barristers in five years to 2021. It also saw the largest increase in female tenants over the preceding ten years, up 9 % to 42%. 

So, despite some tough economic times, there is still substantial opportunity for growth. Many chambers can still boost their brand and reputation in the market and invest in more business development techniques. Embracing new technologies or alternative structures can help chambers to ensure they are protected from the headwinds. The steps to sustainable organic growth are not scary or unachievable. They won’t require complete change. One small step at a time can make a huge difference. 

For more information on organic growth strategies for barristers’ chambers, see our full report.