Helpful links to start a new law firm

SIICT

3 years ago

Starting a new law firm can be wonderful and liberating. Small start-up practices are on the rise, with lawyers setting up law firms across the United Kingdom who are attracted to the benefits of being self-employed and the potential to profit directly from their own hard work, instead of working to demanding targets and lining other business owner’s pockets. It is a proven route to freedom and financial success.

Technology

Work smarter, not cheaper: Tools to increase efficiency are worth the cost

Cloud based practice management software – Most lawyers in small firms spend up to 69% of their working hours doing non-billable tasks like client intake, invoicing, and logging expenses. Most of these tasks can be automated with Clio cloud based software and you can try for free

A cloud storage service – Google Drive or SharePoint is great for backing up your documents and accessing files on the go.

Google Workspace or Microsoft 365
Google Workspace is Google’s personalized-to-your business email, calendar, cloud storage, and everything-else solution.
Microsoft 365 comes with the time-honoured Microsoft Office, in addition to a cloud storage drive, personalized email, and more.

A debit/credit card payment processor (fees vary, many don’t have a monthly fee but do charge per transaction).

A financial institution that offers a Client Accounts.

Most of these are monthly expenses that you’ll want to put in your law firm budget. While most do have an associated cost, consider whether this product will help shift the majority of your time from non-billable to billable tasks. If the answer is yes, then the product will pay for itself in the long run.