*Theme: Law Practice: Funding and finance

The Business of Law Conference 2021 (TBOLC2021) is coming up on 9th March 2021 at 9 AM GMT±1. The host for this mind-blowing event is Strictly Law Business, the premier business training platform for lawyers.

This year’s conference will hold virtually and will feature local and global lawyers as well as heavyweights within the Financial Services industry to discuss the theme: LAW PRACTICE: FUNDING AND FINANCE.

Speaking about the conference theme, the Convener and foremost thought leader on the business of Law, Olubusola Ajala, stated that the time is ripe to discuss and explore possible practical solutions to resolving the capital challenges plaguing and hindering the growth of the Nigerian legal services market.

Ajala noted that capital is the life wire of every business and for ideas to transform into business opportunities, there must be a regular supply of working capital. Whilst access to capital in several forms is available to SMEs and other business owners to jump-start their businesses, the same cannot be said of lawyers and law firms as players in the legal industry are notorious for self-funding and bootstrapping. The burden on our respective personal finance is huge and having to fund law firm practice using personal finance will limit the opportunities the firms or lawyers can take advantage of.

Further, the thought leader stated that there is a need to continuously expose lawyers to the business angle of law practice. Lawyers spend years being trained to become lawyers and venture into practice without intentionally learning anything about how to build and sustain a profitable business. Legal practice, like any other business expression, is a business, and as such, business acumen and skills are required to launch, grow and sustain. This is our big why at Strictly Law Business.

The Nigerian legal services market has huge potential for growth if properly funded. However, some provisions in the Legal Practitioners’ Rules of Professional Conduct are perceived to be stifling the available funding opportunities. Navigating the waters of soliciting an advertisement for instance can make attracting funding opportunities a bit dicey for Lawyers. If as a result of the restrictions contained in the Rules, a Lawyer cannot extensively communicate the quality of his/her work in a manner that sells such Lawyer in light of what he/she has done and the potentials inherent in their practice to convince potential investors, then it has become an issue that must be addressed.

At The Business of Law Conference 2021, there will be three (3) panel sessions:
• The Challenges and Limitations of Funding Law Firm Practice with Personal Finance
• Non-Traditional Funding Opportunities for Law Firm Practice
• Access to Capital for Law Firms: The Role of Financial Institutions

And Masterclasses on
• Budgeting for Law Firms
• Managing Books of Account

Eminent speakers to expect at the conference includes; the Managing Director of Bank of Industry, Mr. Olukayode Pitan, with whom we will discuss the possibilities of creating developmental finance for the legal industry, the Chairman NBA-SLP Professional Ethics Committee, Mr. Aham Eke Ejelam SAN, to discuss a possible review of the legal practitioners’ rule of professional conduct, Regional Managing Partner, ZICO Law Network, Hanim Hamzah, who will speak on alternate business structures for law firms and possible funding opportunities, Mrs. Kemi Ajayi of Banwo & Ighodalo, Mr. Kunle Obebe, Davidson Oturu, Marx Ikongbeh, Chinenye Uwanaka amongst others.

The Business of Law Conference 2021 is the 3rd edition hosted by Strictly Law Business. Previous editions of the conference have been known to record huge success, helped in driving narratives within the industry, and made a significant impact on the career of the attendees. We are very certain that, given the theme of this year’s conference, greater success will be recorded.

Attendance at The Business of Law Conference 2020 is free but registration is mandatory. Interested attendees are invited to register for the conference using this link: http://bit.ly/TBOLC2021

Every year, we bring you this conference at no cost. We are calling for your support towards the success of this year’s conference. Kindly send in your donations via; http://bit.ly/tbolc2021donations

Strictly Law Business is a premium attorney and law business academy that grooms lawyers in the business side of law practice in the Nigerian legal services industry. For more information about the conference, send an email to strictlylegalbiz@gmail.com or info@strictlylawbiz.com. You can also visit www.strictlylawbiz.com to find out more about the Academy and its training programs.

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