What percentage of solicitors in the UK start their own practises?
It is the dream of many, but certainly not all, solicitors to be the senior partner in an eponymous firm. A firm of solicitors is first and foremost a business, albeit one that is regulated by a professional body and a standards agency and also has exacting rules and accounts procedures for holding clients’ money. Not every solicitor is an entrepreneur or is able to raise the money necessary to start their own business. Much will depend on their area of expertise and the demand for their skills. You will need to master a whole set of new skills if you are running your own business. If you are thinking of taking the plunge, do your market research and take the action you would advise your clients to take if they were considering starting a new business. I started out in a one room office in serviced offices (no lease), no clients and only enough money to live on for three months. I spent the bulk of my time making contacts and trying to get work referred to me. It was very hard work but
