Niche firms triumph during a global pandemic

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The legal market is picking up, people are returning to offices and the sanctions which we’ve been under for many months have finally relinquished. This article is dedicated to examining the toll that the national crisis has had on law firms.

The true effect of the last 3 months is becoming visible and like other industries, the legal sector has also seen high-achievers and strugglers. Of the firms that have thrived, some have been niche firms, which provide legal services within targeted areas of law. If like me, you assumed that the magic circle firms would be inherently more successful in chaos, it would come as a surprise to learn that niche boutique firms have triumphed. Whether that’s due to a demand in a particular area of law, or premium prices from magic circle firms, the pandemic has certainly tipped the scales in favor of niche law firms who have reported record levels of business.

The CEO of Litigation Funder Manolete Partners, Steven Cooklin, stated, ’We are currently running a record 201 live cases and foresee no requirement for any further material increase in overhead costs, so the outlook for cash generation is very positive’. The figures from Manolete show they are running at double the rate in comparison to last year,  and this is a clear indication that specialist law firms that are smaller don’t not only survive, but out perform themselves, and a proportion of big city law firms in a tough climate like now.

Smaller High Street law firms are more open to hiring, as they are experiencing an increase in their activity. Boutique West End firms should not be forgotten about, and their legal teams are only getting stronger as a result of potential redundancies, as  there is more talent available on the market.

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Luke Eccles

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Luke Eccles has just completed his Masters in law at University of Manchester, but has always had a passion for Sports. He graduated in 2017 with a 2:1 in Business Law, from St Mary’s University, London and stayed down South for a further two years before returning home in August 2019. Having just completed his Masters, he proactively searched for opportunities and recently secured a position at Kissoon Carr, as a legal recruitment consultant. Through this, Luke has learnt a great deal about the legal sector , and is a keen writer and critique of legal articles across most practice areas. Looking into the future, Luke wishes to continue working with Kissoon Carr and also write weekly legal updates in wide-ranging areas of law, where he will provide a consistent, neutral and an unbiased view on topical legal news. He has a developed a deep interest in EU and Competition Law, and sees himself practising these areas of law in the future.
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