Expansion into foreign markets has been pushed to the top of the agenda for commercial law firms looking to grow their business, according to new research.

More firms (38% of the total polled) would rather expand into a foreign jurisdiction over the next one to three years than focus on their existing business model (29%), offer new services to existing clients (22%), or offer new services to new clients (11%).

The study, by business consultancy Gracechurch Consulting in conjunction with the Law Society’s International Division, found that firms expect to pursue foreign expansion more aggressively than in the recent past. Over the past one to three years, 25% of those polled said they were pursuing foreign expansion, while 39% chose to focus on their business as it stood, while 23% offered new services to existing clients and 13% offered new services to new clients.

Ninety solicitors from magic circle, City and boutique firms spanning 20 jurisdictions were polled at the end of November last year.