The 15-Step Guide to Starting Your Own Law Firm in 2021 - Quill

2021: The 15-Step Guide to Starting Your Own Law Firm

Covers everything that start-ups need to consider to get up and running—from business plans and compliance to banking and insurance to managing cash flow and accounts.

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Why start your own law firm?

With two new law firms launching every working day and the number set to rise in 2021, we’ve published an eBook to help entrepreneurs establish a successful business. It draws on Quill’s 40+ years of experience in the legal sector, as well as expert advice from DG LegalSagars AccountantsHall Brown Family Law and Bhayani HR & Employment Law.

The new guide is published as Britain’s number of law firms continues to grow. With the Covid-19 pandemic prompting many solicitors to reconsider their careers, and remote working making it possible to set up businesses without expensive offices and other overheads, it has never been easier and cheaper to set up a new business.

Data from the Solicitors Regulation Authority suggests that two new law firms are now launching every day, and that one in six is run on a sole practitioner basis.

Quill Managing Director Julian Bryan says: “Starting your own law firm is a very appealing and rewarding way to make a living, but it comes with major challenges and concerns—especially in the current climate.”

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Quill’s guide shows where to turn for professional advice, services and technology, and explains how software, outsourcing and virtual working models can all support a business in its crucial early days. It also helps people new to running their own business get to grips with their new responsibilities beyond client-facing, fee-earning work.

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Watch webinar

It’s more important than ever to be doing the right things so your law firm survives and thrives. Listen to James Brown from Hall Brown Family Law speak about his experience starting a law firm.

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In conversation with Jay Bhayani

To help budding start ups to get their businesses off to a flying start, Jay Bhayani at Bhayani HR & Employment Law shares her wisdom on the practicalities of setting up a law firm.

“With solid foundations in place, there’s nothing you can’t achieve with resilience, dedication and hard work. Success is yours for the taking.”

Read Jay’s story

Guide to starting your own law firm – blog series

Guide to Starting Your Own Law Firm: Steps 1-3

Steps 1-3 of how to start your own law firm in the UK. Topics covered: how to open a bank account, apply for PI insurance and create a comprehensive business plan. 

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Guide to Starting Your Own Law Firm: Step 4

Step 4 in starting your own law firm: how to build risk management and compliance into your business plan. 

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Guide to Starting Your Own Law Firm: Steps 5-8

Steps 5-8 on how to start your own law firm: why take the plunge, formally applying, choosing your business structure and managing client accounts.

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Guide to Starting Your Own Law Firm: Steps 9-10

Steps 9 to 10 to starting your own law firm: how to create a realistic cashflow forecast and understand your accounting responsibilities.

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Guide to Starting Your Own Law Firm: Top 10 compliance mistakes

Here are 10 compliance mistakes we most commonly see new law firm start-ups make and how to avoid them when you decide to start your own legal practice in the UK.

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Guide to Starting Your Own Law Firm: Steps 11-15

Steps 11-15 of how to start your own law firm in the UK covers: technology, where to practice, outsourcing legal services, and how to get your name out there through marketing.

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Outsourcing for success

“If outsourcing services cost less than our hourly rate then it’s better to outsource. Quill’s been with us since the day we started trading. There’s a stark difference between being careful with your overheads and false economies.”

James Brown, Partner Hall Brown Family Law

Are you considering starting a law firm?

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