How I Gained Commercial Awareness

Commercial awareness is one of the most common buzzwords you will hear when applying for vacation schemes and training contracts. Law firms expect candidates not only to understand legal principles but also to grasp how businesses, markets, and clients operate in the real world.

For all its importance, commercial awareness can feel like a vague concept, and it can be a challenge to demonstrate it convincingly in applications. I certainly felt this way when I started applying. Here is my guide to building this skill effectively!

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TheUniofLawStaff

Official Rep

1) Integrating Commercial Awareness into Your Daily Routine 📖

The best way to build commercial awareness is to make it part of your everyday life. Consistency is key, but this does not need to be overwhelming. You can start by signing up to free daily business newsletters from Finimize and the Financial Times, both of which provide clear, digestible summaries of the day’s most important stories. If you prefer audio, podcasts are a great option. Examples include the FT News Briefing, BBC’s Wake Up to Money, and Bloomberg Daybreak Europe. These quick updates help you stay on top of global business developments without requiring hours of your time.

2) Going Deeper into Areas of Interest 🔎

As you begin to notice recurring themes or industries that spark your curiosity, it’s worth going beyond surface-level summaries. You can keep these broad, or dive into specific areas you are interested in. Longform podcasts such as Lawcast or Commercial Awareness with Watson’s Daily provide valuable context and analysis. It is also good to read full-length pieces from the BBC, Financial Times or The Economist. The TCLA Commercial Awareness Guides are another excellent resource written with aspiring solicitors in mind. Many law firms also run public events, for example in partnership with Legal Cheek, that explore commercial awareness topics and provide an opportunity to ask firms directly how they are impacted by them.

3) Tailoring Knowledge to Law Firm Applications 📝

While general commercial awareness is important, what really stands out in applications is the ability to connect that knowledge to the specific firm you are applying to. Read articles written by the firm’s own lawyers, usually available on their website, to understand how they engage with current issues. Consider how the firm’s size, international presence, and practice area strengths interact with the trends you’ve been following. For example, a firm with a strong energy practice may face different opportunities and challenges than one specialising in technology or finance.

Building commercial awareness takes time, but following the above steps set me up for success! There are so many resources out there to help you. If you’re looking for a good starting point, the University of Law’s Certified Commercial Awareness Series is a great way to build a solid foundation and begin developing these skills with confidence.

Layla, LLM Legal Practice SQE 1 & 2 student