Starting a law firm gives lawyers the unique opportunity to take control of their careers, allowing them to choose clients, focus on preferred legal areas, and run their practice the way they want. However, without access to startup capital, many wonder: is it possible to start a law firm with no money?
While challenging, it’s possible through careful planning, low-cost tech solutions, and client-focused strategies, making the dream of owning a law firm achievable, even with limited resources.
In this blog, we dive into how to start a law firm with no money, the steps to take, things to consider, and how to decide if this path is right for you.
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5 steps for starting a law firm with no money
Starting a law firm is no small undertaking, but thankfully, it is very achievable. 31% of lawyers leave firms to start a solo practice, and according to the American Bar Association (ABA), more than half of the private practice attorneys in the US work for a solo or small firm.
While lawyers who want to start a law firm with limited resources face additional challenges due to their financial situation, their goals are not out of reach. Here are five steps to take when planning:
