By Legal Futures Associate Nexa Law

Summary • Starting a law firm in England and Wales requires careful planning, SRA authorisation, and compliance with regulatory and insurance obligations. • Solicitors must choose the right business structure such as sole practitioner, LLP, partnership, or limited company, and prepare a robust business plan. • Professional indemnity insurance (PII) is a mandatory cost and must be tailored to the firm’s risk profile and practice area. • Effective marketing, practice management software, operational efficiency, and robust business development strategies all play a key role in long-term success. • New Model Law Firms offer a modern, low-risk alternative for solicitors wanting autonomy without the full burden of running a regulated entity.

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