Business Plan Writing Service

Tier1 Entrepreneur Visa (Extension) Business Plan

Tier 1 Entrepreneur visa normally lasts for a total of 3 years and 4 months. So it is expected that Tier 1 Entrepreneur visa owners would apply to extend their stay in the UK for a further 2 years under Tier 1. This is the point it can get tricky or scary as the application process for ex-tending your Tier 1 Entrepreneur visa is very demanding and engaging. The Tier1 Entrepreneur Visa extension is simply applying for an extended leave in Uk, and should be applied for before your visa expires. Although the criteria can be strict, and the need for you to provide full and accurate supporting documentation are uncompromising.

The demands can only be a problem, if your documents are not up to date, either due to poor advice or just pure negligence. Without, a comprehensive and complete application, your case can be delayed or refused. It is possible that you also get invited to be interviewed by the Home Office, to discuss in detail your application, your business and your activity during your stay to date. So it is extremely important that you get prepared

The Business Plan for a Tier1 Entrepreneur Visa Extension

Writing a business plan is an important step for any serious Entrepreneur but n sometimes become a real hassle. Draw-ing out your blueprints and future business plans can be very is exciting and soul satisfying, but the idea of spending hours, drafting a document is not. However, if you are planning to apply for a Tier 1 Entrepreneur Visa your business plan is a vital document. So the best way is getting a professional business writer.Normally to enter the UK via the Entrepreneur route, you must pass the Genuine Entrepreneur Test, which most appli-cants fail. The Genuine Entrepreneur Test is a way of ensuring that people applying for the Tier 1 Entrepreneur Visa are sincere in their plans to start, or invest in a UK business. It also checks if you are well equipped with the knowledge and skills required to do so.

The business plan is one major way the Home Office can test your commitment, expertise and ability to contribute to the UK economy. So it is important to impress the home office with your business plan.

Difference between a Standard business plan and an Entrepreneur Visa business plan

A standard business plan sets out your vision for your company, sales, turnover and profit projections, market analysis and future objectives. It is essential for providing a framework as to how to achieve your business goals. It also gives clarity and confidence to potential lenders and investors. The question is will this be enough to impress immigration offi-cers?

As part of the Genuine Entrepreneur Test want to see that you can and will comply with the requirements of the Tier 1 Entrepreneur Visa. These requirements include:

  • The ability to establish, take over or become a director of one or more businesses in the UK within six months of being granted entry to the UK under the Entrepreneur Visa route
  • You have the required funds (£200,000 or £50,000) is genuinely available to you and will remain so until it is invested in a start-up or existing company
  • You do not intend to take Employment in the UK other than working in your business
  • Sufficient money to support yourself, so you do not have to rely on public funds
  • You have the required knowledge of English

To pass the Genuine Entrepreneur Test your business plan should reflect that you have researched your proposed busi-ness in depth and you are well informed. You need to prove to the Home Office that you know who your customers, suppliers, and competitors will be. To achieve this, ideally your business plan will provide:

  • A description of your business, its products, and services
  • What your investment funds (£200,000 or £50,000 will be spent on)
  • A financial forecast for the next three years
  • Your previous experience and qualifications in related industries
  • Comprehensive market research, including a SWOT analysis
  • Who your customers will be and a marketing plan for reaching them
  • Your prices
  • Where your business will be based and details of the commercial lease
  • What licences and professional registrations you will need
  • Your staff, and their roles within the business (this should include a plan for employing two ‘settled’ people)
  • Your professional advisors such as accountants, lawyers

It is paramount that all figures, experience, and qualifications you give are accurate, consistent and match up with the documentation you provide. For example, if you have spent time the UK working in your chosen sector on a Tier 2 (Gen-eral) Visa or a Tier 2 (Intra-company) Transfer Visa it is imperative that you mention this in your business plan. It is proof that you know the UK market you plan to sell your goods/services in.

Business plan writing process

At Tier1 business plans we conduct detailed research on business modules to find out which strategy fits your business plan before writing. We also use our efficient business process to get the best result. Our business process include;

  1. Free Telephone Consultation
  2. Business Plan Questionnaire
  3. Completing the Draft Business Plan
  4. Review of Business Plan