Clear Law is celebrating record turnover with a new £1.2m office move.
The Manchester-based firm has seen a 173 per cent surge in annual turnover, growing from £3m in 2013/2014 fiscal to hitting £8.2m last year.
The firm has attributed the growth to diversifying from its focus on personal injury claims to handling large corporate lawsuits.
Sally Dunscombe, director of Annecto Legal, has been working with Clear Law over the past eight years to provide internal resources, and guidance as they restructure, in order to effectively manage all aspects of their business.
Dunscombe explains new government legislation imposed in 2013 has driven a number of legal firms to exit the personal injury market, however, she says Clear Law’s ‘unconventional approach’ to continue in this dwindling sector has been instrumental in their success.
She said: “A lot of firms have decided to move away from the lower value, high volume work and moved into larger claims or negligence arena. By contrast, Clear Law has taken the position of rebalancing the ratios of both, since personal injury work provides churn, as they enter the commercial sector.
“They’ve got very ambitious plans to grow the workflow in the firm; one of the things we’re working on at the moment is with insurers, to derisk and fund some of those big misselling financial actions that they are taking forward. These are nonstandard insurance infractions.” Clear Law’s headcount has also grown from 40 in 2011 to 85.
To accommodate the growth and facilitate their new venture, which consists of more client-facing activities, the firm has acquired a brand new office for £1.2m and fitted for an additional £500,000.
The 5,000 sq ft premises is located in the Timber Wharf development in Manchester’s Castlefield area.
Matthew Corbett, managing partner at Clear Law said: “The new workspace is bold and confident in its design, we are a forward thinking company and we think of ourselves as business people who happen to do law rather than traditional lawyers.
“We’ve invested heavily in IT with one eye on the future of legal services, using new working methods, robust systems and a pervasive use of IT. This allows us to dedicate our time to our clients whilst running their cases in an efficient and productive manner.”