In order to be a successful lawyer you’ll need to have more than just strong legal knowledge. To succeed, you’ll also need to hone a number of other skills and commercial awareness is one of them. Understanding the legal environment is an essential part of your career. We look at what commercial awareness is, why it’s important and offer some practical advice on how to develop your own commercial awareness.
Written by Grant Longstaff. Published 02 April 2025.
What is commercial awareness?
Commercial awareness means understanding the business world and the factors that influence it. As a legal professional, you’ll need to understand the operational aspects of practising law, how firms and their clients engage with the wider business world and realise how the sector is shaped by current events. There is also a need to recognise how developments and advancements in the legal world can reshape how law is practised.
Why is commercial awareness important?
There are several reasons why commercial awareness is important. One of the biggest is to enhance your employability. It’s likely commercial awareness will come up during an interview. Law firms want candidates who are commercially aware and can provide more informed advice to their clients. It also means you’re in a better position to protect your clients’ interests which helps build stronger relationships with them. All of this can also help the success of your firm.
Ultimately, when it comes to displaying your commercial awareness you’ll need to demonstrate you understand both the firm and how it’s positioned in the legal world.
Tips to build commercial awareness
Developing commercial awareness is a continuous process. Below we look at some practical ways you can enhance your commercial awareness and develop your knowledge.
Read the news
Reading the news is an essential source of information. First of all, you’ll need to stay up to date with what’s happening in the legal world. You’ll find this in a variety of news publications, many will even have dedicated legal sections. There are also legal publications, such as The Law Society Gazette and The Lawyer, which can offer a deeper insight into the latest sector news.
In addition, you’ll also need to stay up to date with the news in your legal practice area. For example, if you practice financial law you’ll need to have an eye firmly on the economy. Legal cases and developments in your practice area could have an impact on your work and clients, so it’s important you’re the first to know.
Listen to podcasts and radio
Keeping up to date with multiple publications might seem overwhelming. But news doesn’t always have to be read. You can stay up to date by listening to news programmes on the radio or subscribing to an industry podcast. You can listen on your commute, whilst walking the dog or cooking dinner. Rather than simply reporting the facts, these shows can feature in depth discussions too, which can help break down the implications and deepen understanding.
Social media
Social media platforms are another way to enhance your commercial awareness. They’re immediate, meaning they can offer real time news on the latest developments. There are a wealth of social media accounts to follow. Choose those you find value in and turn your aimless scrolling into something good.
Subscribe to newsletters
It can be overwhelming trying to keep on top of the news, but there are newsletters available which will collate all the latest developments and send them straight to your inbox. You’ll find them run by both organisations and individuals. Your favourite legal social media bloggers might even run a newsletter. To begin, you could try LittleLaw. Created by Idin Sabahipour, one of our former students, to keep aspiring lawyers in the loop, the newsletter now has over 20,000 subscribers.
Know the firm
We know commercial awareness is a big part of law firm recruitment, so taking the time to research them before applying can help strengthen your application. What kind of work do they do? How do they operate? Who do they work with? Make sure to look at their latest news too.
Some firms will even host open days. These can be an excellent way to find out more about the firm and network with their staff.
Work experience
Another excellent way to enhance your commercial awareness is through work experience. Use opportunities of work experience, pro bono work and internships to discover how firms operate and the work they do. These experiences are invaluable in understanding the practical application of commercial awareness.
Events
Attend events with a focus on the legal world. You’ll find events held by law firms, legal organisations and learning providers. For example, we regularly hold events, both online and in person, which include events on commercial awareness, talks with legal professionals and explorations of legal events among others.
Talk to your peers
Try and engage with fellow lawyers whenever you can. Whether it’s at a networking event, through our Alumni Network or simply responding to a legal discussion on LinkedIn, conversations with other professionals can offer valuable insights into the commercial aspects of practicing law.
Consider what you learn
Taking in the latest news is one thing, however, it’s important to consider how recent developments could impact the legal world. Do changes in legislation impact how your firm operates? What does a new policy mean for your clients? Reflecting on changes, and considering their impact, is another way of showing your commercial awareness.
Developing commercial awareness is a continuous process, but by engaging with the legal world in a variety of ways you can position yourself as an experienced candidate capable of delivering legal advice that aligns with clients' needs.
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