Developing a new skill set can give Chambers the edge in an increasingly competitive market, as Dr Marc K Peter explains
It is undoubtedly an exciting time to be a barrister or manage a set of chambers. Factors such as alternative business structures (ABSs), direct access and the dramatic leap forward in technological advancements with regards to legal research, drafting and client management are enabling entrepreneurial spirits within the Bar to drive their chambers to great heights both financially and in terms of exceptional client service.
However, barristers’ turnover has decreased in the last four years by an average of 8.5% per year, making business development and marketing activities increasingly important (ONS (Turnover of Legal Activities 2010-2014)). As a result, greater numbers of individual barristers and chambers are engaging in strategic, well-executed marketing plans to attract regular, well-paid work. Our own research into the market shows that more barristers now believe that providing access to the best legal information available, having a clear IT strategy in place and investing in efficiency tools
