How is the practice market

I currently work in industry, an OK job (if a little tedious) with a reasonable salary for the area (Cornwall). I used to work in practice so have some idea of how things work (or at least how they did 10 years ago!). I am seriously thinking of starting my own practice and was wondering what the experience of other recently started practices have been like; is there plenty of work out there? Is competition fierce? Do charge out rates make it worthwhile? etc etc

Any feedback gratefully received.

Thanks