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Dear Anon 13.26&14.14
How much would your PII premium be? Have you enquired?

Here's a tip if you wish to run your own business. Chasing turnover ie low "affordable" fee, high volume is an extremely dangerous model and almost certainly unsustainable. Plus it will make you ill.

You could always set yourself up as a charity-it opens the door to external funding and removes much of the costs of running a business. That way you can help people who cant afford other Solicitors' fees. You could try raising funds through crowdfunding for specific cases and your clients of modest means can then access justice and I'm sure they will be really grateful for all your hard work.

By the way, the equity partners you despise have all the financial risk. If you are paid a salary and you generate fee income then you should make sure that your salary reflects your fee income. Too many solicitors expect a salary because they have a degree and some PQE even though they don't know how much they earn in fees or don't care and so can't say or they don't understand why the fees they have earned matters (ie they believe in the Magic Money Tree).

Please do let us know how you get on.

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