I had my own business which closed in April. I am a solicitor.
I was in partnership and basically I began to feel very uncomfortable with my partner for a number of reasons (vague sources of funding, no personal client base, family had poor reputation locally). Sadly, the business model itself was showing signs it could work.
I decided to pull the plug before I had to secure any borrowings against my family home. I lost all my savings though.
I would like to get to a position where I had no personal overheads before starting again. My wife has a good job and we can run our home on her salary. I would put about 6 months running costs into the business and borrow a bit after that if the model looked like it was working.
I would definitely have a different bank manager and accountant though. They clearly had no idea about turnover times for work in a solicitor's practice in my opinion.