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Holding back the tide

22 August 2019

Who knew legal practice could be fun? We’re forever faced with depressing facts and figures around mental health, court closures and lack of resources, but growing numbers of solicitors are relishing the challenge of setting up their own niche practice to concentrate solely on their area of specialist expertise.

One such solicitor featured this month says every day brings new challenges, which “is half the fun of it!”.

The recent Bellwether/Lexis Nexis report “Is the future small?” confirms not only that the small firm sector as a whole is thriving, but a growing number of solicitors are leaving bigger firms to work in smaller ones.

So why leave the security of a large law firm to launch into the unknown? How do you plan a successful niche firm and fund the set-up costs? What are the challenges in your formative months (apart from sleep deprivation and keeping your accountant happy)?

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