England: Barristers prefer chambers to ‘new and innovative’ business models

The Bar Standards Board (BSB) has published a report on the provision of legal services by barristers, based on an online survey conducted in September-October 2016.

The survey found that while there are examples of “new and innovative” business models in the market, the prevailing business model for barristers is a traditional chambers.

Meanwhile, only five per cent of barristers plan to change their fee structure, eight per cent plan to change the way they receive instructions, and seven per cent plan to change their governance structure.

Director-general Vanessa Davies (pictured) said: “Improving access to justice, promoting the interests of consumers and promoting competition in the provision of legal services are key objectives of the BSB.

“This research tells us that some innovation is happening in traditional chambers as well as through new business models.

“This survey took place before the recent report by the Competition and Markets Authority which called for greater transparency in pricing and about which we will be consulting shortly.

“But I note, for example, that around half of chambers who responded and around two thirds of those from non-chambers said that they already include details of their fee options and structures in their marketing materials.

“The chambers model seems likely to continue to serve consumers well in the future but our role as the regulator is also to enable barristers who do want to innovate to do so, through flexible regulatory arrangements. Our recent announcement that we are now able to license Alternative Business Structures (ABSs) is an example of this.”