Business plan for Tier 1 visa - from experienced Immigration Entrepreneurs

A business plan is compulsory. A GOOD business plan, written by immigration entrepreneurs, is vital!

With over 10 years of experience in the visas and immigration business - and many successful Entrepreneur visa cases - who would be better placed to write a business plan than our immigration entrepreneurs? Our company, just as your new business, started ‘small’ and now it is based in the City of London. 

We developed our unique approach to creating a business plan! It is prepared from the Tier 1 Entrepreneur visa point of view! This sounds obvious, yet it is ‘the secret’! We focus on what the visa officers expect to see, ie on what you will be required to do while holding this visa. We cover investment of £50,000 or £200,000 (depending on your category) and what you are going to spend it on. For example, paying yourself a salary is not counted, yet it is a very common mistake we see.

Another example - creating 2 jobs for settled workers. It may only be needed after you secure your initial visa but you have to explain now how you are going to implement it. What kind of jobs? How much will they be paid? A real example from our clients’ interviews: “How much is UK minimum wage?”, “How are you going to find the candidates to work for you?” We think it is a good idea to mention all this, plus more! 

How about explaining your business idea in  simple and plain language? The technical terminology may sound like a good idea (so it looks like you know what you are doing) but your plan will be assessed by the visa officers, usually  without any business experience. Can you convince them?

A typical business plan takes 2 - 3 weeks to prepare, has 30-40 pages and includes the following (may vary on case-by-case basis):

Executive summary.

About you:

Relevant experience and training.

About your overseas business or your family business (if applicable),

About your business in the UK:

Product: description and why your products/services are good or even better than competitors’.

Market research and competition.

Place: who will be your customers and how they are going to reach out to you.

Price: what is your price strategy, will you be completing on price, quality or otherwise?

Promotion: your marketing plan including advertising, website, social media.

Location: will you need an office, a shop? And why the UK? If the business is online

Licences and professional registrations, required by law for this type of business.

People: who will be running the company: staff, including creating of 2 jobs for settled workers.

Power team: professionals you need to help you, such as accountant, insurance provider, employment/business lawyer, IT support.

Money: financial plan.

How your investment will be made and what the £50,000/£200,000 will be spent on.

Cashflow forecast for the 3 years of your initial Entrepreneur visa. Some call it a profit and loss account, so a cashflow forecast includes expected sales, expenses (regular, yearly and one-off), profit/loss.

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