business plan visa uk

Guide On Writing A Business Plan For The Innovator Founder Visa

Unlocking opportunities for innovative entrepreneurs, the Innovator Founder Visa serves as the gateway to establishing ventures in the UK. At its core, a well-structured business plan becomes the linchpin, not merely a requirement but a beacon illuminating a persuasive vision for the endorsing body.

Here, this guide unfolds as a meticulous roadmap, meticulously charting the course for aspiring visa applicants. It navigates the intricacies, outlining the pivotal components essential to sculpting a business plan uniquely tailored for the Innovator Founder Visa application .

Executive Summary

The executive summary functions as a distilled representation of the business plan's core elements, encapsulating the essence of the venture. This section operates as a portal into the comprehensive plan, providing a snapshot that crystallises the proposed venture's pivotal components.

In a succinct manner, it includes critical elements such as the business concept, defined objectives, unique selling proposition, and the anticipated trajectory of growth. By presenting a condensed yet holistic overview, the executive summary acts as a teaser, drawing the reader's focus and laying the groundwork for the entire business plan.

This section acts as a persuasive precursor, inviting the reader to delve deeper into the intricacies of the venture, effectively serving as a gateway into the comprehensive blueprint of the proposed idea.

Crafting a Persuasive Business Description and Objectives

Detailing the business concept and objectives constitutes the cornerstone of a persuasive and robust business plan. This pivotal section functions as a canvas to vividly illustrate the essence of the business, encompassing its intrinsic nature, target market specifics, product or service offerings, competitive advantages, and overarching aspirations. Effectively articulating these facets in a coherent narrative is imperative. It involves crafting a compelling storyline that intricately outlines the mission, vision, and distinctive value proposition of the venture.

This narrative serves a dual purpose: capturing the reader's attention and vividly depicting the purpose and potential of the proposed endeavour.

By painting a vivid picture through this narrative, the business plan not only captures the interest of its audience but also effectively communicates the driving force propelling the establishment of the venture.

This section functions as the guiding light, illuminating the core essence and aspirations of the proposed business, laying a strong foundation for the remainder of the plan.

In-depth Market Analysis and Strategic Approach

Conducting a comprehensive market analysis is fundamental in shaping a robust business plan. It involves a detailed evaluation of the market landscape, pinpointing target demographics, understanding consumer behaviours, assessing competitors, and uncovering growth prospects.

By presenting a clear understanding of market dynamics and a strategic approach to capitalise on opportunities, applicants spotlight the venture's potential within the UK market. This meticulous insight substantiates the proposed venture's viability and growth prospects.

Thorough market analysis is more than just understanding; it's about strategic leverage. It entails diving deep into market intricacies, decoding consumer behaviour, and dissecting the competitive terrain.

Articulating this insight not only showcases profound market comprehension but also demonstrates a strategic roadmap for capitalising on identified opportunities.

This detailed approach fortifies the venture's standing within the UK market , underlining its potential for sustainable growth. This section serves as a testament to the thorough research and strategic foresight applied, solidifying the proposed venture's position within the market sphere.

Structuring a Solid Operational Plan

The operational plan forms the backbone of executing and managing the business's tangible aspects. It provides a comprehensive overview, detailing the organisational structure, the pivotal team members, and delineating their respective roles and responsibilities within the venture.

This section serves as a roadmap, emphasising a clear and coherent operational strategy, showcasing the applicant's proficiency in steering and managing the venture effectively.

Highlighting a robust operational framework not only signifies the applicant's capability but also demonstrates the thoroughness in executing the business idea with precision and efficiency.

It encompasses defining hierarchies, assigning responsibilities, and delineating workflows, offering a clear blueprint for operational efficiency. This section doesn't just outline; it showcases a well-thought-out operational strategy that underlines the applicant's prowess in translating plans into action.

Detailing a coherent operational plan signifies more than just structure; it embodies the applicant's capacity to navigate the practicalities of running the venture.

It provides an insightful perspective into how the venture will function on a day-to-day basis, accentuating the applicant's competence in steering the business towards success.

Financial Projections and Investment Strategy

The financial segment forms the bedrock, laying the groundwork for the business's feasibility and long-term sustainability. It's imperative to present not just projections but substantiated and realistic financial figures.

This includes comprehensive revenue forecasts, detailed expense breakdowns, meticulous cash flow analyses, and well-crafted investment strategies. These elements serve as pillars, fortifying the venture's financial viability

By providing substantiated financial projections, this section not only bolsters the venture's fiscal sustainability but also magnetises potential investors. It showcases a strategic blueprint directed towards not just financial growth but stability.

Each figure isn't just a number; it's a testament to the comprehensive planning and meticulous scrutiny applied to validate the business's financial backbone.

These projections and strategies aren't merely about numbers; they are the narrative that reassures investors about the venture's potential.

They don't just showcase feasibility; they exude prudence and foresight, inviting potential stakeholders to embark on a journey envisioned with strategy, calculated risks, and tangible growth prospects.

This section doesn't just talk about financials; it builds a compelling case for the venture's fiscal resilience and attractiveness to investors.

Emphasising Innovation and Scalability

Spotlighting the innovative facets of the business idea and outlining strategies for scalability is essential. This section underscores the venture's potential for growth and long-term success, aligning with the innovative criteria of the Innovator Founder Visa . By elucidating innovative aspects and strategies for scalability, applicants assert the venture's adaptability and resilience in evolving market landscapes.

Social Impact and Contribution

Incorporating social impact initiatives or contributions amplifies the application's value. This section accentuates the venture's commitment to societal benefits, aligning seamlessly with the visa's objective to endorse businesses contributing positively to the community. By outlining impactful initiatives, applicants showcase a holistic vision, illustrating the venture's commitment beyond commercial success, aiming to foster positive societal changes.

The path to securing the Innovator Founder Visa demands a detailed, forward-thinking business plan that weaves together each section into a compelling narrative. Every facet contributes to illustrating not just the venture's innovation but its potential, sustainability, and societal contribution.

Through a meticulously structured plan, applicants sketch a vivid roadmap, showcasing their innovative vision while laying the groundwork for a thriving entrepreneurial journey in the UK. This guide serves as a toolset, empowering aspiring entrepreneurs with insights and strategies to craft a persuasive, engaging business plan. It's a blueprint designed to resonate with the visa authorities, opening doors to turn entrepreneurial aspirations into vibrant realities within the dynamic landscape of the United Kingdom.

How To Prepare A Business Plan in 2024

Guide on writing a business plan for an expansion visa.

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Entrepreneur Visa UK

Updated: June 28, 2023

Home » Entrepreneur Visa UK

Understanding what's the Entrepreneur Visa UK

Tier one visa, is it worth it, uk is a good place for business, residency permit to live in the uk, free healthcare and education, who can apply, members of eu are not (by far) required to have a visa, what are the requirements.

• a seed funding competition approved by the Department for International Trade;
• a venture capital firm registered with the Financial Conduct Authority;
• a UK government department.

Investing your own money

Are all types of investment eligible for the scheme, you must prove you can support yourself, good knowledge of the language is also a must, how does the process work, the documents you will need to submit as part of your application are.

• a current passport or other valid travel identification;
• evidence of the investment funds available to you;
• a business plan;
• proof that you meet the English language requirement;
• a health certificate;
• a criminal record certificate.

You may need to be interviewed

It's necessary to have a solid business strategy (and plan), the uk entrepreneur visa may be extended up to 5 years, visa extension for family members, other requirements for family members, graduate entrepreneur visa uk.

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How To Write A Business Plan For A Tier 1 Entrepreneur Visa

• Posted on May 3, 2017

For most busy, creative entrepreneurs, writing a business plan is a necessary evil. Working out your future business plans and how you will achieve them is exciting; spending hours drafting a document is not.

However, if you are planning to apply for a Tier 1 Entrepreneur Visa your business plan will be a vital document. To enter the UK via the entrepreneur route, applicants must pass the Genuine entrepreneur Test. At present, around 50% of applicants fail.

The Genuine entrepreneur Test was set up in 2013 to ensure those applying for a Tier 1 Entrepreneur Visa were sincere in their plans to start or invest in a UK business and had the knowledge and skills required to do so.

The business plan is one way the Home Office can assess an entrepreneur ’s commitment, expertise and ability to contribute to the UK economy in a way that justifies them being granted a Tier 1 Entrepreneur Visa .

But what do Home Office officials look for in a business plan designed for the Genuine entrepreneur Test? And how can an experienced Immigration lawyer provide the best advice and London-based contacts to ensure your business plan is up to scratch?

A standard business plan and an Entrepreneur Visa business plan – key differences

For any entrepreneur , a standard business plan is a key document. It sets out your vision for the company, sales, turnover and profit projections, market analysis and future objectives.

A standard business plan 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.

But it is unlikely to impress Immigration officials much.

Home Office officials reviewing your business plan 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:

• you can and will 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
• 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
• you have enough money to support yourself, so you do not have to rely on public funds
• you have the required knowledge of English

These are the basic requirements. A successful Tier 1 Entrepreneur Visa plan provides even more information, designed to convince Home Office that your venture can provide full-time Employment to two persons ‘settled’ in the UK. In this context, ‘settled’ refers to British Citizens or anyone else who is not subject to Immigration controls (i.e., someone who has Indefinite Leave to Remain status). Full-time is defined by the Home Office as 30 hours per week.

Your business plan will need to reflect how you will create these two full-time positions; a requirement for extending your Tier 1 Entrepreneur Visa and applying for Indefinite Leave to Remain .

The Home Office will also use your Entrepreneur Visa business plan to establish the viability of your experience and knowledge of the UK market sector in which your business will operate. To satisfy this, your business plan will need to show:

• your experience in working in the industry
• the credibility and breadth of your market research
• your academic qualifications which are relevant to your market
• your experience in working in the UK in the sector you plan to launch your business in

For example, if you have spent time the UK working in you chosen sector on a Tier 2 (General) Visa or a Tier 2 (Intra-company) Transfer Visa it is imperative that you mention this in your business plan. It can act as proof that you understand the UK market you plan to sell your goods/services in.

What your Tier 1 Entrepreneur Visa plan should contain

The best Entrepreneur Visa lawyers recommend that the business plan you use to pass the Genuine entrepreneur Test reflects that you have researched your proposed business in depth. You need to demonstrate 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

Make sure that any figures, experience, and qualifications you give are accurate, consistent and match up with the documentation you provide to accompany your application.

How OTS Solicitors can help with an Entrepreneur Visa business plan

One of the biggest mistakes a Tier 1 Entrepreneur Visa applicant can make is to copy a business plan from the internet. Home Office officials are very much aware of such practices and will spot this immediately. In such circumstances, your application is likely to be rejected.

Our immigration Solicitors can work with experienced business plan writers, tax advisers and accountants to put together a business plan at a cost effective price. It will be drafted to give you the best chance of passing the Genuine entrepreneur Test. In one recent case, our applicant skipped the interview stage of the application process all together because of the strength of the business plan we provided.

Our Immigration lawyers understand what Home Office officials are looking for in an Entrepreneur Visa business plan. By entrusting the drafting of the document to us, your application for a Tier 1 Entrepreneur Visa has a strong chance of success.

"In one recent case, our applicant skipped the interview stage of the application process all together because of the strength of the business plan we provided."

OTS Solicitors is one of the most respected Immigration law firms in London. By making an appointment with one of our Immigration solicitors, you can be assured of receiving some of the best legal advice available in the UK today. Our business immigration solicitors, Teni Shahiean, Oshin Shahiean , and Dr. Lusine Navasardyan, have extensive experience in assisting entrepreneurs to create tailored business plans and pass the Genuine entrepreneur Test.

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Guide to UK Business Visas for Non-EEA Citizens

Anne morris.

• 26 March 2017

IN THIS SECTION

What are the UK Business Visas for Non-EEA Citizens?

With application errors leading to delays, rejections, lost fees, and missed opportunities, it has never been more important for non-EU citizens to select the most appropriate route of entry for their circumstances, whether that is to work, invest or build a business in the UK.

Start up visa

Designed for business owners starting up their first business in the UK, the Start Up visa is open to graduates and non-graduates with a business idea that is endorsed by an approved body for the key criteria of:

• Innovation: You have a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage.
• Viability: You have, or are actively developing, the necessary skills, knowledge, experience and market awareness to successfully run the business.
• Scalability: There is evidence of structured planning and of potential for job creation and growth into national markets.
• Commitment: The endorsing body must be ‘reasonably satisfied’ you will spend the majority of your working time in the UK on developing your business – although you are permitted under the guidelines to work outside your business.

Read more about the Start Up visa .

Innovator route 

While the start up visa is for first-time business owners, the innovator visa is for experienced business people to come to the UK to establish a business. The application is in two parts: the endorsement stage, where you apply to a Home Office approved body for formal endorsement of your business idea, and only with endorsement can you apply for the visa. The key criteria for the route are:

• Endorsement by a relevant business sponsor. Applicants will be required to apply for and secure endorsement by a business sponsor, who will assess applicants’ business ideas for their innovation, viability and scalability. Regular contact is to be maintained with the endorsing body at the 6, 12 and 24 month marks.
• £50,000 investment in the business from any legitimate source, reduced from £200,000 for most applicants in the current Tier 1 (Entrepreneur) category). This investment is waived if the applicant is switching from the Start-Up visa.
• Satisfy the English language requirement, to Level B2.

Read more about the Innovator visa .

Tier 1 Investor Visa

A Tier 1 Investor visa allows holders to invest £2,000,000 or more in UK government bonds, share capital or loan capital in active and trading UK registered companies.

Investor visa holders are permitted to work, study or engage in business activities in the UK.

You are not however allowed to invest in companies mainly engaged in property investment, property management or property development, work as a professional sportsperson or sports coach, or claim UK public funds.

You are eligible to apply for a Tier 1 Investor visa if you satisfy the following criteria:

• You want to invest £2,000,000 or more in the UK.
• You are from outside the EEA and Switzerland.
• You are at least 16 years old.

As part of your application you will need to demonstrate:

• The money for investment belongs either to you, your spouse or civil partner.
• The funds must be held in one or more regulated financial institutions.
• The funds are available to be transferred to and invested in the UK.

Entry into the UK under a Tier 1 Investor visa is for a maximum of three years and four months. You can apply to extend this visa for another two years.

You can apply to settle permanently in the UK after two years if you invest £10 million, after three years if you invest £5 million, or after five years if you invest £2 million.

Any dependent family members that you bring with you must wait five years before they are eligible for settlement.

Read more about the Tier 1 Investor visa .

Tier 1 Exceptional Talent

The Tier 1 (Exceptional Talent) visa is designed to enable ‘exceptionally talented’ individuals from outside of the EEA to gain preferred entry to the UK.

The visa specifically covers talent from science, humanities, engineering, the arts, and tech and digital . Applicants must be endorsed as ‘exceptional in their field’ by the relevant sector organisation (for example The Royal Society, the British Academy, the Royal Academy of Engineering, Arts Council England and Tech City UK).

Holders of the Tier 1 Exceptional Talent visa can either be self-employed, or work for any employer in any sector at any level.

Dependants can also accompany the applicant if they meet the relevant requirements.

There is a two-stage application process for the Tier 1 Exceptional Talent visa. First, apply to the relevant organisation for endorsement; second, make an application to UKVI for the visa.

Applicants must meet mandatory criteria for endorsement, including:

• A proven track record of innovation working in one of the specified sectors as director or founder of a  company, or an employee working in a new field or concept; or
• Proof of recognition for work outside of your immediate occupation that has contributed to the advancement of the sector (e.g. by mentoring, advising, teaching or participating in clubs and societies).

Applicants must also meet at least two of four qualifying criteria:

• Significant technical, commercial or entrepreneurial contribution in the digital technology sector as either an entrepreneur, director, or founder of a digital technology company;
• Recognised as a world leading talent in the digital technology sector;
• Undergone continuous learning / mastery of new digital skills (commercial or technical) throughout your career;
• Demonstrated exceptional ability in the field by making academic contributions through research (e.g. journals or awards).

If an applicant cannot meet the qualifying and/or mandatory criteria, but has evidence demonstrating potential to do so in the future, they can apply as a ‘candidate with exceptional promise’.

Fast-track applications are also available where:

• Applicants are planning to make a contribution in Hull, Leeds, Liverpool, Manchester, Newcastle, Sheffield or Sunderland.
• Applicants have specific skills that are particularly in need in the UK.
• Applicants are part of a team of five or more.

Once endorsed, an application should then be made to the Home Office, who will consider whether there are any general grounds for refusal.

The usual requirements of maintenance and sufficient English language do not apply to this visa.

The visa is granted for a maximum of five years, after which an applicant can apply for settlement. Note however that to extend leave or  apply for settlement , applicants will need to demonstrate they have worked in their field of speciality during their stay.

Tier 2 Visa

The Tier 2 visa provides temporary permission to non-EU citizens to work in the UK and fill temporary gaps in the domestic labour market.

The Tier 2 process can however seem highly involved for both employer and employee.

Employers must first apply for and maintain a Sponsor Licence .

Individuals are eligible to apply for a Tier 2 (General) visa provided they:

• Have a confirmed offer of employment from a licensed UK employer (the ‘sponsor’).
• Have a valid Certificate of Sponsorship .
• Score 70 points under the points based system.

Applicants must demonstrate:

• Suitability for the role
• Their certificate of sponsorship reference number
• An ‘appropriate’ salary for the role
• The required level of English – usually at least CEFR level B1 or an academic qualification that was taught in English and is recognised by UK NARIC as being equivalent to a UK Bachelor’s degree
• The required savings for you and any dependants if your fully approved (A’ rated) sponsor is not certifying maintenance

Once your Certificate of Sponsorship is received, you can apply for entry clearance to the UK from your home country.

Note that it is only for vacancies included on the Tier 2 Shortage Occupation List , will employers not need to demonstrate that a Resident Labour Market test has been carried out i.e. advertising the vacancy for 28 days and documenting the recruitment process as per Home Office guidelines to confirm that there are no suitable resident workers for the role.

Because the Tier 2 (General) visa can lead to  Indefinite Leave to Remain , the category also makes provision for the spouses, partners and any dependent children to immigrate to the UK at the same time as the main Tier 2 applicant.

Read more about the Tier 2 visa .

Standard Visitor Visa

The Standard Visitor visa is issued outside the UK to non-EEA citizens who are subject to immigration control and require a visa to enter the UK, which includes visits for business-related purposes.

For example, visitor visa applicants will have to show as part of their application that they will be undertaking  permissable business activity  during their visit. Applicants will be required to comply with specific visa conditions during their stay. Breach of their conditions can compromise permission to stay or return.

Standard Visitor visas are valid for up to 6 months (or 180 days) per visit, but holders may re-enter the UK multiple times during this period, which may satisfy employer requirements of an assignee.

Applications can be made up to three months before the intended date of travel.

Applicants must also demonstrate within their application that they intend to stay for no longer than 6 months, and that they intend to leave the UK by the end of the visa period.

If a business visitor visa was granted for less than six months, the holder apply for an extension up to the maximum of six months.

Visitors must also show that they can fund themselves – and any dependants – without recourse to public funds; typically through financial support from their employer or spouse.

If an applicant needs to visit the UK regularly over a longer period, there are longer term visas available which last 2, 5 or 10 years, allowing the holder to stay for a maximum of 6 months on each visit.

Read more about the  Standard Visitor visa for business .

Representative of an Overseas Business visa

The Representative of an Overseas Business visa allows a representative of an overseas company to set up a branch or subsidiary in the UK.

It also allows an employee of an overseas newspaper, news agency or broadcasting organisation permission to come to the UK on long-term assignment.

Under the Representative of an Overseas Business visa, individuals are permitted to work for their employer, full time. You are not however permitted to work for another company or on a self-employed basis, or stay in the UK if the sole representative status is ended by your employer.

To be eligible, applicants must:

• Apply from outside the EEA
• Have access to sufficient funds to support – there is no access to public funds
• Meet the English requirement

Sole representatives in the UK must:

• Be recruited and employed outside the UK by a company whose headquarters and principal place of business are outside the UK
• Have extensive related industry experience and knowledge
• Hold a senior position within the company (but not be a major shareholder) and have full authority to make decisions on its behalf
• Intend to establish the company’s first commercial presence in the UK, eg a registered branch or a wholly owned subsidiary

You may also be eligible if the company has a legal entity in the UK that doesn’t employ staff or transact business.

Applicants can replace a previous sole representative a company has been working to establish a UK branch or subsidiary, but it is not yet set up.

Successful applicants can come to the UK for an initial period of 3 years, and have the ability to apply to extend the visa for another 2 years.

Holders are able to bring dependants to the UK. They can become eligible to apply to settle in the UK after 5 years.

Do you need advice on a UK Business Visa for a Non-EEA Citizen?

It is more important than ever for overseas talent to select the most appropriate route of entry for their specific circumstances.

Application processes across the board are rigorous, and costly. To avoid delays or incurring lost fees, seek advice to select the most appropriate visa and for guidance with your application.

We are highly experienced immigration legal advisers. Our team of immigration solicitors and former Home Office personnel have exceptional understanding of UKVI protocol and decision-making criteria. Speak to us for effective support throughout your visa application process.

Founder and Managing Director Anne Morris is a fully qualified solicitor and trusted adviser to large corporates through to SMEs, providing strategic immigration and global mobility advice to support employers with UK operations to meet their workforce needs through corporate immigration.

She is a recognised by Legal 500 and Chambers as a legal expert and delivers Board-level advice on business migration and compliance risk management as well as overseeing the firm’s development of new client propositions and delivery of cost and time efficient processing of applications.

Anne is an active public speaker, immigration commentator , and immigration policy contributor and regularly hosts training sessions for employers and HR professionals

• Anne Morris https://www.davidsonmorris.com/author/anne/ Temporary Worker Sponsor Licence Guide UK
• Anne Morris https://www.davidsonmorris.com/author/anne/ UK Innovator Founder Visa 2024 Guide & Requirements
• Anne Morris https://www.davidsonmorris.com/author/anne/ UK Certificate of Sponsorship Guide 2024
• Anne Morris https://www.davidsonmorris.com/author/anne/ How to Apply for a UK Sponsor Licence

About DavidsonMorris

As employer solutions lawyers, DavidsonMorris offers a complete and cost-effective capability to meet employers’ needs across UK immigration and employment law, HR and global mobility .

Led by Anne Morris, one of the UK’s preeminent immigration lawyers, and with rankings in The Legal 500 and Chambers & Partners , we’re a multi-disciplinary team helping organisations to meet their people objectives, while reducing legal risk and nurturing workforce relations.

Legal Disclaimer

The matters contained in this article are intended to be for general information purposes only. This article does not constitute legal advice, nor is it a complete or authoritative statement of the law, and should not be treated as such. Whilst every effort is made to ensure that the information is correct at the time of writing, no warranty, express or implied, is given as to its accuracy and no liability is accepted for any error or omission. Before acting on any of the information contained herein, expert legal advice should be sought.

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Business plan for visas and companies in the UK

The United Kingdom invariably attracts foreign businessmen with great opportunities to realise and promote their projects in the territory of the state. There are several types of English visas available to realise your ideas. Certain of them require a professionally drafted business plan, which will open access to the world-class business community, with prospects for career growth and development of your own business. It is not an easy task to properly present all the necessary arguments, reflecting the realities of the present day, especially for those who are just starting to work within the English legal framework. This article summarises the main aspects of creating a competent business plan.

For which visas to England do you need a business project?

• A business plan is one of the most important documents for a UK Innovator Founder Visa. This type of visa is suitable for those who want to set up and promote a brand new business in the UK, unlike anything already on the market.
• Under the UK Expansion Worker visa, a professional with a certificate of sponsorship can come to the UK to open the first branch of an overseas company. In order to issue a sponsorship certificate to a worker, the firm must submit a business plan and obtain a sponsorship licence. The plan will demonstrate how the business plans to achieve its objectives, taking into account income, expenditure and other metrics.
• And of course where a new company is being set up in the UK, a business case is also essential.

The plan will be evaluated by competent endorsing bodies (Endorsing bodies) appointed by the state. If your proposal proves to be innovative, promising and scalable, it will receive a high score and may be approved. Thereafter, the same competent bodies will monitor and track the fulfilment of all the indicators you have declared for a year. Therefore, detailed planning with the help of competent professionals is recommended to avoid withdrawal of approval. A properly drafted business project helps in distributing tasks among partners, organising the whole business and understanding its potential. A business plan is also necessary to obtain investment or a bank loan. It is the basis for regulating your relations with investors or lenders about the repayment of funds.

Important emphases in planning

To begin with, it is necessary to thoroughly research and provide information about the target markets and potential customers. It is also necessary to indicate with the help of what tools are supposed to promote, sales volumes, economic forecasting should be as accurate as possible, and the budget should be calculated to the smallest detail. Of course, any project has its weaknesses and in the plan they should be reflected, with a demonstration of ways to solve difficult moments. It should present the purpose and objectives of the enterprise, its prospects and potential opportunities.

Common mistakes in a business plan

It is quite difficult for a foreigner to objectively assess the current economic situation in any sector of the British market, so there may be many errors and inaccuracies in the business plan. For example, there is no clear argumentation and purpose, the cost of the project may be underestimated, unrealistic deadlines and so on, which will inevitably lead to a refusal to obtain a visa. We advise you to consult experienced specialists who will check the prepared business plan. Also professional staff can help to create a project from scratch in the required format, i.e. complying with the country’s standards and competent English. Such a service will significantly save time and allow you to start realising your ideas as soon as possible.

FAQs about the business plan

How accurate does a business plan need to be.

Numerical values play an important role in assessing the efficiency of a conceived project. Even the distance from potential suppliers matters, so real figures must be taken into account when planning, otherwise there is a risk of spending much more on transport than originally planned, for example.

Does the business plan need to consider the negative aspects of products and shortcomings in production processes?

When completing the business plan, only real data should be used, so that the final document serves as a guide in the execution of the work and achievement of the goal. All shortcomings should be outlined and supplemented with solutions. It is important to realise that there are no perfect projects and the absence of a description of weaknesses can also cause unnecessary questions from investors.

Is it necessary to describe production technologies when creating a business plan?

Of course, it is necessary to understand the field of activity at the highest level, but it is not worth demonstrating the level of your knowledge through the description of processes in the text of the business plan. Section of production characteristics should contain information about the volume of products, time spent on its creation, consumption of materials, etc. – Those factors that directly affect the possibility of selling as many goods as possible are displayed.

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Start-up visa business plan examples & costs

What kind of businesses can you set up in the UK if you’re applying for an innovator visa or startup visa?

• 1. Key factors
• 2. Minimum cost
• 3. Determining viability

Creating a successful Business Plan

Develop and create features for your business, easiest route into the uk.

The start-up visa is primarily for those that are at the concept stage of their business, so determining the viability of your business is a crucial criteria to fulfil in order to establish the amount of investment you will need. With this in mind, your business plan will need to set out what the problem is in the market and how your product will solve this problem. Despite there being no minimum investment amount required for the start-up visa, the easiest route into the UK is to invest this amount into your business.

However, if you choose not invest £50,000 into your business straight away, then it is advisable to have a business plan that will demonstrate the viability of your business and explain how you will secure investment for your business in the future. Securing investment should not be too hard to do as the UK government is looking to expand the innovation economy instead of traditional industries.

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Business immigration

Uk business visas | a 2023/24 application guide.

  Focus Area Key Takeaway Visa Types Choose the right UK business visa type based on your professional needs Fees Be aware of the fee structure and the upcoming fee increase Application Process Seek professional guidance to ensure a successful application Documentation Gather all necessary documentation in advance  

The United Kingdom has long been a hub for international business, making it a desirable destination for entrepreneurs, investors, and professionals from around the globe. Obtaining a UK business visa is a crucial step towards launching or expanding your business ventures in the UK. This guide aims to provide a comprehensive overview of the UK business visa process, including the different types of business visas available, fee structures, challenges in visa acquisition, and much more.

Understanding Different Business Visa Types

The uk offers a variety of business visas to cater to different professional needs., here are some of the prominent business visa types:.

• Business Visitor Visa : Ideal for individuals looking to attend meetings, conferences or short-term business engagements in the UK.
• UK Start-Up Visa : Perfect for early-stage entrepreneurs looking to establish a business in the UK.
• UK Expansion Worker Visa : Designed for individuals tasked with expanding a foreign business into the UK market.

Each of these visas has its set of requirements, eligibility criteria, and benefits, which are crucial to understand before embarking on the application journey.

UK Business visa Fees Structure

Understanding the cost associated with applying for a business visa is crucial as it aids in financial planning for your UK venture. The fees for UK business visas vary based on the type of visa you are applying for. As of 2023, the visa fees for work visas in the UK are £259 for Tier 5 (Youth Mobility Scheme) visa, £259 for Tier 5 (Temporary Worker – Charity Worker) visa, and £626 for the Tier 2 (General) visa. It’s noteworthy to mention that there will be a fee increase effective from 4 October 2023.

This includes a 15% increase in the cost of most work and visit visas, and at least a 20% increase in the cost of priority visas, study visas, and Certificates of Sponsorship.

For a more detailed breakdown of the fee structure, you can visit our Fees page .

What Is The National Success Rate For Business Visas?

The success rate for UK business visa applications has shown promising trends. In the year ending March 2023, the number of work visas granted to main applicants significantly increased, totalling 299,891 grants. This was a 61% rise from the previous year, mainly due to the increasing demand for skilled worker visas. Additionally, from 2019 to 2022, the average success rate for the UK Start-up visa was 89.58%, and for the UK Innovator visa, it was 87.8%.

  Visa Type National Success Rate Start-Up 89.58% Innovator 87.8%

Starting The the Application Journey

Initiating the application process for a UK business visa requires thorough preparation. Meeting the specific requirements, proving your identity, and awaiting the application decision are crucial steps in this journey. It’s advisable to seek professional guidance to ensure all your documentation is in order and to improve the likelihood of a successful application.

Gathering the Necessary Documentation

Before applying, gather all the necessary documentation. This typically includes a valid passport, recent photographs, proof of enough personal savings to support yourself in the UK, and for an Innovator Visa, having at least £50,000 in investment funds.

Venturing into the UK business landscape can be a rewarding experience, opening doors to numerous opportunities. However, navigating the visa application process can be challenging. Being well-informed about the different business visa types, fee structure, and application process, along with having all the necessary documentation ready, can significantly smooth your path to obtaining a UK business visa.

Final Recap Table : Focus Area Key Points Visa Types Business Visitor, Short-term Business, Innovator, Start-up, Global Business Mobility visas Fees £259 for Tier 5 visas, £626 for Tier 2 (General) visa; Fee increase from 4 October 2023 Challenges Restrictive new visa schemes; success rate varies Success Rate Significant increase in work visas granted; Average success rates: 89.58% for Start-up visa, 87.8% for Innovator visa Application Process Meeting specific requirements, proving identity, awaiting application decision Documentation Valid passport, recent photographs, personal savings, investment funds for Innovator visa

Your journey towards securing a UK business visa is a meticulous process, but with the right guidance and preparation, you are one step closer to realising your business aspirations in the UK.

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UK Start Up Visa Business Plans - New Entrepreneurs

Note: From 13 April 2023, the new Innovator Founder Visa route will replace the Start Up Visa Route. More information here:

https://ukvisabusinessplans.com/innovator-founder-visa

As the leading UK Visa Business Plan Writers, we are always up to date with the newest rules and changes in relation to UK Immigration Matters. As well as preparing the business plan, we can also help you with applying for the Endorsement Letter too as part of our package service. 

As an Official Partner for several Tier 1 Visa Endorsement Bodies, we are now able to get your UK Start Up Visa Business Plan pre-approved endorsements within 5 working days. With the Tier 1 Investor Visa route closed, the Innovator Visa route becomes a great alternative for foreign entrepreneurs and their families. 

Our Services

There are two business plan services we provide that may be of interest to potential Start Up visa applicants.  

Start Up Visa Business Plan Review 

Potential Start Up Visa applicants who already have a draft of their business plan, but need advice as to whether the document meets the visa criteria, we offer our bespoke business plan review service.  The result is an tailored and actionable report with detailed recommendations for the improvement of the Start Up visa business plan.

Start Up Business Plan Writing

If you would prefer to instructing our expert team of plan writers, we will capture the initial business concept and would then transform this information this your idea into a commercially viable and UK Visa Immigration compliant business plan. All our business plans include all the necessary market research, analysis and financial forecasting.

We have worked with several Endorsement Bodies to ensure our business plans meet their stringent requirements. We will then review the full draft together and make sure you are familiar with the business plan so you are prepared in the event of an interview with the Endorsement Body.  

The Home Office recently published their Statement of Changes in relation to foreign entrepreneurs:  

"The Government is clear that entrepreneurs play a key role in creating jobs and driving economic growth, which is vital to the prosperity of the UK. In June of this year, we announced a new Start-up visa route. 

This will build upon the successes of the current Tier 1 (Graduate entrepreneur) route, expanding it to ensure that the UK can benefit from a wider pool of overseas talent looking to establish new businesses in the UK."

Start-up visa 

The Statement of Changes in HC 1919 makes it clear that the Tier 1 Graduate Entrepreneur route is closed to new applicants as of 6 July 2019: 

For paragraphs 245F to 245FC, substitute: 

“Tier 1 (Graduate Entrepreneur) Migrants 

245F. This category is now closed and has been replaced by the Start-up category in Appendix W.”. 

Tier 1 (Graduate Entrepreneur) applications can therefore continue to be made until 5 July 2019. 

The explanatory notes say that the main features of its replacement are as follows: 

The Start-up category is an expanded version of the Tier 1 (Graduate Entrepreneur) category. It is for those starting a new business for the first time in the UK. Applicants will not need to be graduates and will not need to have secured any initial funding. 

Successful applicants will be granted 2 years’ leave (doubled from 1 year) and will be able to progress into the Innovator category to continue developing their businesses in the UK after that time.

HOW TO GET A UK START UP VISA ENDORSEMENT  

Applicants will need to be endorsed by a trusted organisation in the UK, “such as business accelerators, seed competitions and government agencies, as well as higher education providers”. 

Part W5 of the new Appendix W contains the specific requirements for a start-up visa, including who can endorse applicants for one, their monitoring responsibilities and the form of an endorsement letter. The letter must contain specified information and speak to the business’s “innovation, viability and scalability”. 

Appendix W makes clear that having a start-up visa “does not lead directly to settlement in the UK”, although the person can switch onto an innovator visa. There are transitional arrangements for those already here on Tier 1 (Graduate Entrepreneur) visas to switch onto the new system.

A list of endorsing bodies can be found HERE !  

For further information on how we can assist you, please e-mail us at [email protected] , or pop us a message using our enquiry box which can be found below.  

We look forward to hearing about your business! ​​

UK Startup Visa Business Plan Experts

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Start Up Visa Business Plan Sample

Tell Us What You Think?  

The new start-up visa is for people having an innovative, viable and scalable business idea to establish a business in the UK. A successful applicant will be granted 2 years leave which may progress into the innovator visa category for the purpose of settlement.

There are 3 main requirements for eligibility to apply for a start-up visa.

• A business plan which has three main elements including;
• Scalability
• Meet the English language requirements
• CEFR B2 level
• Maintain sufficient maintenance funds for the main applicant and dependants
• Currently £945 for main applicant & £610 for each dependant

Is my business plan viable?

The first is the most difficult to accomplish, as an applicant has to prove that they have a business plan endorsed by an organisation listed on Gov.UK as an endorsing body. The process of endorsement is hard as it requires an endorsement letter and undertaking from the designated body confirming they will make checks on 6, 12 and 24 intervals to ensure the progress on business.

So how do you know if your idea is worth pursuing? Here are some questions to ask yourself to make sure you know how to swim before diving straight in.

• is there a market for it?
• is there a room for you?
• can you fund it?
• do you a contingency plan?
• have you got what it takes?

Business Plan

The Business Plan includes:-

• Title Page (Face Sheet)

– including the Business name, logo, address, phone fax web address etc, principal’s name(s) and date of the latest revision

• The Executive Summary
• This should be no more than 1 -2 pages in length
• This is the very last part of the plan to be written
• It is a summary of what, where, when, who and how and your vision for the business
• It outlines headline costs, the investment needed and likely returns
• Table of Contents

  – (sections and pages should be numbered) –also 1 page only

• – Section 1 – Objectives

– the main aims and objectives of the Business and your own personal aims and may include a mission statement

What do you personally want to achieve and why?

What do want out of this achievement for yourself – power, success, excitement, status, money, Where do other people fit in? Are you doing this alone or is this a shared ambition

What is your idea? Where has your idea come from? What sparked it?

Is it your idea alone or do you share it with anyone?

Have you told anyone else about it? Who and what have you told them?

Do you want a business – something to set up, manage and run or do you just want an income from licensing or selling your ideas or intellectual property?

What do you want from a business – a nice place to work, companionship, to be the boss, a shared achievement, money?

What do want for your business – steady or rapid growth, to go public, sell  out, build an empire?

What have other businesses been able to achieve in the industry sector you’re proposing to join? Where have they failed? Why will you succeed where they’ve failed? Business proposals which deviate significantly from industry norms may be heavily criticised and substantial reasons should therefore be given.

And obviously, not every ambition and goal will be reached at the same time, but what is your near future estimate of how long you think it will take to achieve the bulk of the ambitions.

• Section 2 – Abilities –
• Personal Strengths and Weaknesses of you and all key principals,
• Experience, Motivation and what you bring to the Business, but NOT your CV (that can go in the appendices). Why are you the person(s) to run this business
• Key personnel and Training (if relevant)

Why should anyone work with you and help you achieve your ambitions?

Why should any investor back you? What’s special about you compared with other entrepreneurs?

What do you bring to the party?

• Section 3 – Business Description
• A summary of the Trading Process, The product, and for whom, Where? Details of the product and services you will be offering

So what is your business response to the opportunity you have identified? Is it a new product/service altogether? Or are you delivering your product into the market in a novel way? In other words, how do you propose to commercially exploit the perceived opportunity?  

• Section 4 -Market Research

– Primary and Secondary research

• How undertaken –describe the method
• Customers …identify customer base, segmentation of market
• Competition and competitor analysis
• Consumer reaction

What research are you going to do to prove there is a demand for your product or service. How will you know that there is a need or want?

Who are your competitors?

Why are they your competitors? What products or services do they supply, or what do they do now that makes you recognise them as competitors?

What do you think your competitors will do when you launch your product into the market place?

• Section 5 – The Marketing Plan
• Product – …identify the benefits / USP’s
• Place – where based, where interface with your customers, location facilities etc
• Price – clear and reasoned pricing policy
• Promotion – initial plans, How the market will be captured -advertising, discounting of pricing,  timing of launch.
• How the market will be reached- outlets, distribution plan
• SWOT and PESTEL analysis
• Any Projected Sales targets must be justified and realistic to achieve

Where do you think the business opportunity is?

Who do you think are your customers? What do you think are their needs or wants that make them your customers?

What currently happens? What do they do now to satisfy those needs or wants? Is there already an existing product being supplied into the market place for them? What’s wrong with it as far as your customer is concerned?

Is it your intention to take a share of that market? Or is it a new market altogether? In other words, what is your rationale for setting up a business operation?

What is especially unique (and therefore valuable) about the product or service or process that you are proposing? Have you taken any steps to protect this uniqueness (e.g. patent, trade mark applications)? Have you told anybody about this?

• Section 6 -The Organisational Plan –Logistics
• A description of the business and how it will operate –the business model to be employed
• The legal structure of the business
• Premises, Equipment, Insurance, Legislation and Licences etc
• Management and personnel – how the functions will be covered.
• The support /other stakeholders in the business.
• Any IPR issues – Patents, trade marks, design rights etc.

Summarise all that now in a few simple paragraphs, or better still, draw a picture or diagram or flow chart – what’s your big business idea?

• Section 7 – The Financial Plan
• Detailed assumptions regarding income (sales forecast), ongoing expenditure and cost of sales / overhead costs , initial ‘Capital Costs’ and other ‘Start-Up’ costs.
• Projected Profit & Loss Account for first 3 years ( on one sheet)
• Break Even Calculation(s)
• Cash Flow Forecast for first 3 years ( 3 separate sheets)
• Sensitivity Analysis e.g. “how will you balance the books if sales reach only 75% of forecast?”(Pessimistic) or “what is the impact if sales reach 125% of forecast?” (Optimistic) v. ‘Realistic’. For Year 1 only.
• Funding required to start-up – your own financial contribution v. any grants, loans or overdraft facilities required
• Personal Survival Budget – your fallback position (these details go into the appendices)
• Section 8 – Appendices

  – these are the Supporting Documents and may include  –

• Curriculum Vitae (CVs) of owners / managers / partners
• Market Research Data and Competitor Analysis, including specimen questionnaires, tables of results, etc. and may include detailed results of the surveys done
• Letters of Intent to sell(to customers ) or to provide( from suppliers)
• Copies of Patents applied for / other Intellectual Property
• Copies of any letters of consent (e.g. from landlord, local authority etc.)
• Terms & Conditions of Trade
• Letters of Reference or Support

Download a business plan sample

Our team of expert immigration solicitors are well versed in writing and editing business plans for these types of organisations. Our experiences will work seamlessly to favour and provide you with the most optimised document to maximise the chances of approval.

Disclaimer:

The information in this blog is for general information purposes only and does not purport to be comprehensive or to provide legal advice. Whilst every effort is made to ensure the information and law is current as of the date of publication it should be stressed that, due to the passage of time, this does not necessarily reflect the present legal position. Connaught Law and authors accept no responsibility for loss which may arise from accessing or reliance on information contained in this blog. For formal advice on the current law please don’t hesitate to contact Connaught Law. Legal advice is only provided pursuant to a written agreement, identified as such, and signed by the client and by or on behalf of Connaught Law.

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Innovator Founder Visa Business Plan

Order your fully compliant innovator founder visa business plan uk.

Our success rate is above 95%

What is Innovator Founder Visa?

Are you an experienced business owner? Or have you spent years in a certain industry and are now considering moving your entire setup to the UK?

If yes, you can qualify for a recently launched entry permit called the Innovator Founder UK Visa (ex. Innovator Visa UK). It is an exceptional opportunity for qualified business personnel who are willing to either move their enterprise or establish a new venture in the UK from scratch.

However, a UK new innovator founder visa qualification is based on a comprehensive, quality, and practical idea to invest in the business. It doesn’t end here as a new innovator visa UK is an expensive affair. An applicant needs to have an investment amount of up to £50,000, along with a valid endorsement from a reputed govt-approved body.

Because of its stringent visa rules, many people find it challenging to apply for it. However, once you find and understand innovator founder visa requirements, you can complete the process with ease.

Fully compliant

Your Innovator Founder Visa Business Plan will be fully compliant with all requirements from the endorsement body. We watch carefully for changes to guidelines. This is why we have a nearly perfect success rate of 95%. If any revisions are necessary, we will provide them free of charge.

Fully customizable

We prepare each of our presentations from scratch, including graphics and beautiful, modern design. Your tailored solution will highlight your best features and provide those who will review your case with the kind of structured outline that they need to approve your application.

Industry focus

Our experienced business plan writers have produced 5,000+ business plans that have covered more than 42 industries. Because our expertise is so broad, we can provide business plans that are tailored to your industry and location in the UK.

Experienced team

OGScapital’s dedicated immigration-focused teams have worked on nothing but immigration cases for nearly two decades. Every year, our experts produce 120-150 business plans for Innovator Visa applicants, with 95% of them resulting in approval.

Operational guide

We can bring industry-specific best practices to your Innovator Founder Visa Business Plan. This means you will be able to use your business plan as a road map for business development. You’ll move steadily towards even your largest business goals with help from our experts.

Our solution

A comprehensive OGScapital business plan will get you the Innovator founder visa approval you need.

Innovator Founder Visa Business Plan:

Users:   Innovator Founder Visa applicants and immigration lawyers

Size:  35-45 pages

Timeframe:   10-12 days

Graphic design:  included

Assigned team:   2 senior consultants, including a project lead

Unlimited revision period:   3 weeks

Rush Delivery Service:  Available

Every OGS business plan includes:

• Executive summary
• Description of your products and services
• How your business meets the Innovation
• research and development activity
• Market analysis
• Competitor analysis
• Staff profile and recruitment strategy
• Marketing and sales strategy
• SWOT analysis
• Investment strategy and funding requirement
• Detailed revenue and Cost of sales forecast
• Cash flow forecast
• Annual Profit & Loss forecast
• Balance sheet forecast
• Forecasted stock levels (if applicable)
• Forecasted advertising/marketing expenditure
• Forecasted fixed asset schedule
• Forecasted staff costs
• Any relevant appendices, including CVs

Founder Visa Business Plan Introduced in 2019, UK’s govt entry permit aims to serve as a “Tier 1 Business visa route” for individuals planning to move to England. As said earlier, the recently launched visa category typically facilitates veteran businesses and firm owners with a unique and prosperous idea to start or run a venture in the UK. An investment of £50,000 is a mandatory criterion to qualify for a business visa in the UK.

Also, the visa candidate needs an approved and official body to promote and support the venture plan. That is to say, an effective and practical business idea backed by a comprehensive plan is crucial to qualify for visa application approval. Applicants also need to convince the endorsers along with a business plan startup visa for the UK.

UK tier 1 innovator founder visa requires applicants to meet the criteria of the “genuine entrepreneur” to get a business UK visa. However, the new rules of UK business visas have replaced this requirement with an “endorsement body”. That means if you want to qualify for a UK innovation visa, you must attach a letter issued by an endorsement body.

Moreover, the current updates in the visa requirement have lowered the capital investment to £50,000. Earlier, it was £200,000 for all applicants to start a new business in England. If an applicant doesn’t have a good business plan, the new UK business visa class has slim chances of approval.

The good news is that there are several govt-approved endorsers with potential experience in the business field to help interested candidates get the approval. You can benefit from their corporate connections and contacts to create a proposal in a specific niche. Remember that who you’re applying to typically depends on the niche you work in or the services you want to launch in the market.

Innovator Founder Visa Business Plan example

We prepare our Innovator Founder Visa Business Plans using our trademark user-friendly format, complete with beautiful and modern design. Review the sample to see what kind of quality OGScapital can deliver.

Innovator Founder Visa Business Plan Sample (UK)

How much should be invested under Innovator Founder Visa program?

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Does the business plan has to be approved by an endorsement body? What organisations are the endorsement bodies?

Yes, approved bodies include business accelerators, seed competitions, and government agencies, and higher education providers. These bodies assess applicants’ business ideas, carefully considering their levels of innovation, viability and scalability.

How much does an OGScapital Innovator Founder visa business plan cost?

Our fee is as reasonable as it is competitive. We scale our fees up or down depending on task complexity.

What sections will my business plan include?

Each of our business plans is structured differently, but all of our business plans include a few key sections: market analysis, business model description, operational strategy, goals, financial model, etc

What will you do for me if the endorsement body denies my application?

Our success rate of 95% means that this is highly unlikely, but in the unlikely event that your application is denied, we will revise the document as necessary without any added cost.

OGSCapital will provide you with a complete uk innovator founder visa business plan for a reasonable fee.

Special Offer for Legal Attorneys, Solicitors!

Join OGS partner program now

OGScapital will help you build a carefully tailored and professionally prepared business plan.

Getting your OGS Innovator Founder Visa business plan is a four-step process

Submit  our online contact form .

We will respond to all of your commentss, we will issue the final Innovator Founder Visa Business Plan.

Payment methods: wire transfer and debit/credit card

Any questions? Get in Touch!

OGScapital was founded in 2006 by a dedicated group of 8 business document experts. Our specialized immigration plan writing team know exactly what Home Office expects, and they are some of the first to know when their requirements change. Because of what we know and how much we’ve done in this area, we can proudly call ourselves the #1 immigration business plan focused company in the world. We serve 150 clients like you every year, and our 95% success rate says everything you need to know about what you can expect from us.

OGScapital was established in 2006

Our team members have experience in 42+ industries

We create 150 Innovator Founder Visa business plans per year

OGScapital has working partnerships with 45 law firms and solicitors

Testimonials

We take clients satisfaction extremely seriously, trying to exceed all of our clients’ expectations.

OGScapital has a 9.5/10 Trustpilot score

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Highly Efficient Service

Highly Efficient Service! I am incredibly happy with the outcome; Alex and his team are highly efficient professionals with a diverse bank of knowledge.

∙ Loga Mathangi

Great Work!!

Had the pleasure of working with Alex on a BP for a new venture. The end result looks very professional. His communication is always prompt and he was very patient with my detailed requests. I would definitely work with this company in the future.

Great Service

Great Service. On point and on time!

∙ Franck Boursier

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Amazing service. Very happy

Awesome job!

∙ Elizabeth

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I found OGS Capital very responsive and helpful in preparing a business plan.

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Diamond Sun Labs, Inc. The key to any successful business can be found in its employees. The staff at OGS Capital performed beyond our expectations, the Business Plan delivered in depth analysis and was professionally composed. All of this was accomplished on time and budget. We would not only recommend there service, we will further be engaging them in future projects. Incredible Job, Thank You

∙ Cisco Schipperheijn

Extremely recommended.

Alex is very talented and creative. He is very dedicated and work with you with so much support. Always answers your questions even if it is after work hours. Deliver outstanding and professional results. On time and great work didn’t even need to make any changes to the work he delivered. Thank you so much for making the first step of my dream come true.

Our clients

More than 5,000 companies have used OGScapital’s services.

Benefits of the UK Innovator Founder Visa

UK innovator founder is a relatively newer business visa developed for industrialists, business owners, and investors to establish their business and settle in the UK with spouses and families. While the visa category has hefty capital investment requirements and approval criteria, many people apply for this entry permit because of its benefits.

With a UK innovator founder visa for business, applicants can:

• Stay in England for five years with their families
• After completion of the visa duration, applicants can get permanent residency status from the govt
• Applicants can start a business with $50,000 – which is a low investment for established business personnel
• Applicants can live with their families in England for three years
• Applicants can apply for a two-year visa extension
• After becoming permanent UK citizens, an applicant can have access to UK’s universities, schools, and colleges for academics, and hospitals to receive medical facilities by the govt. It can help them save the cost of healthcare expenses.

How do I Get a UK Innovator Founder Visa Business Plan?

If you plan to establish a venture or company in the UK and are considering applying for a UK innovator founder visa, you need to have a unique and innovative business idea. The business plan should meet specific criteria that include;

Scalability

The way you design your business plan for UK startup visa and use ideas in it can play a vital role in your visa approval process.  You need to lay things coherently and logically to make it legible and easy for the endorser to find your business idea unique and potentially impactful.

You can get your UK innovator founder visa business plan with the help of a pro-business plan writer. The qualified and veteran UK startup visa consultants can help you make a lean plan that is practical, innovative, and scalable.

Is it easy to write a UK innovator founder visa business plan?

Becoming a successful visa approval candidate requires having sufficient investment capital for your venture in England.

To write a UK innovative business plan, you need to showcase that your venture’s idea is;

• Viable  – should demonstrate the practicality of your business idea, your skills and knowledge to execute the plan, and your involvement in the operations.
• Innovative  – idea should be unique and original from the others on the market
• New  – idea should  be new as you can’t pursue a business plan that is  already  on the market

Plus, you must mention the source of your funds. Most importantly, getting a UK innovator founder visa (ex. Innovator Visa UK )  requires you to devise a business plan. It demonstrates your potential for success in the UK. You must seek the assistance of a visa consultant for a UK startup to improve your chances of success.

Your Professional Innovator Founder Visa Business Planers

There is no way you can deny the importance of professional help when it comes to innovator founder visa UK guidance. OGS Capital specializes in creating or drafting exceptionally effective and viable business plans for investors willing to start their entrepreneurial journey in the UK.

With more than 12 years of experience in writing business plans for new and established companies, our expert team has extensive knowledge of crafting business plans that can help you accomplish your business goals. We offer the best strategic advice for your business scope and provide access to easy funding solutions.

OGS Capital is what you need to excel in producing and strategizing your business plan to increase your chances of success for a UK innovator founder visa.

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How To Create a Good Innovator Visa Business Plan

If you intend to start a new business in the UK then you could be eligible for the Innovator Visa, as part of your application you will need to have a good business plan. Find out more about how you can create a good Innovator Visa Business plan.

For assistance with your business plan, get in touch with our immigration lawyers today on 020 4502 8582 .

Request a call back from our immigration experts

What is the innovator visa.

The Innovator Visa is a UK business visa that replaced the Tier 1 Entrepreneur Visa in 2019. The Innovator Visa is for people who plan to start a business in the UK. To start up visa and be eligible you must have at least £50,000 available to invest in your business.

The other main requirement for the Innovator Visa is that you must have your innovative business idea endorsed by an approved endorsing body. To do this you will need to present an original business plan

If your application is approved, the Innovator Visa will allow you to live in the UK for up to three years. The innovator visa route can also be extended after this and you may be eligible to apply for Indefinite Leave to Remain in the UK after just 3 years of living in the country.

What are the criteria for the business idea?

Your business proposal is a key part of your Innovator Visa application, you need a good business plan so that it will be endorsed by an approved body. If you do not have a business plan that has been endorsed then your application will not be approved.

There are 3 main endorsement criteria that your plan will need to meet, your business idea must be:

• Innovative –  This means that your business idea is original and it meets new or existing market needs or creates a competitive advantage.
• Viable –  This means that your business plan must be realistic based on the market awareness, skills and knowledge and experience that you have in relation to running a business.
• Scalable –  This means that there is evidence of structured planning and the protentional for job creation and growth into national and international markets.

An approved endorsing body will need to assess your business proposal to determine whether it meets the above criteria. If it does then they will send a letter of endorsement to the Home Office. Endorsing bodies must have a track record of supporting entrepreneurs in the UK and must be approved by the Home Office. A list of all the approved endorsing bodies can be found on the gov.uk website.

How to structure an Innovator Visa business plan

To give your plan a good chance of being endorsed it must be structured in a clear and coherent way. There is no set layout that you must follow but you should ensure that your plan clearly shows that you meet the criteria for this visa.

Some things that you should include in your business plan include:

• An executive summary – an introduction to you and your proposal
• Description of your business idea
• Organisation structure and legal considerations
• Product or service description
• Market analysis
• Marketing and promotion plans
• Competitor analysis – looking at any opportunities that you can exploit
• Finances and budget
• Risk management

By including these elements you will develop a strong business plan that is more likely to receive investment funds and an endorsement. As well as the above elements you should ensure that you clearly address how you meet the criteria for the Investor Visa, more details about this are given below.

Do you need help applying for an Innovator Visa? Our lawyers can assist you. Get in touch

Usually, in your business plan, you will need to demonstrate that your business idea is a genuinely new idea and that it is not merely competing with another business that already exists.

However, in some circumstances, your business plan may be counted as innovative if it is similar to another applicant’s business plan, but you have a competitive advantage to your plan such as a more cost-efficient model or a superior product. Whether this applies will depend on the endorsing body that is evaluating the business plan.

To prove that your proposed business is innovative you should explain in your plan what makes your business idea new, what gap in the market your business ideas will fill and if there are already similar businesses to yours you should explain what makes your idea different.

A company will only endorse your business plan if you can show that you will actually be able to deliver the business idea. To prove that your business plan is viable you will need to demonstrate that you have the necessary skills and, knowledge, experience and market awareness to deliver on your business plan.

To meet the viability requirement you should consider including the following information in your business plan:

• Information about your professional and academic background
• Details about how your experience will help you – you don’t necessarily need to have run a similar business before, transferable skills can also be included to help demonstrate the viability
• How you plan to handle competition
• When you project the business to begin making a profit by
• Information about who your clients/customers will be
• Details about your advertising and marketing plans
• Details about any recruitment or training plans you have to fill skill gaps

As well as being innovative and viable your business plan will also need to show that your business idea has the potential for growth and job creation into both national and international markets.

To demonstrate that your idea is scalable you should include information about your business start, which markets you plan to expand into, how you plan to expand into these markets and how you intend to fund your expansion.

It’s important to note that scalability is not just about whether your business has the potential to grow, a business can only be properly considered as scalable if it has operational leverage. This means that your business mustn’t add revenue and operating costs at an equal rate, instead, you will need to demonstrate that your own business model is capable of increasing revenue with only small additional operating costs.

How to find an endorsing body

Once you have completed your Innovator Visa business plan the next step is to find an endorsing body to approve the innovator visa endorsement plan.

The term “endorsing body” is used to refer to organisations that have expertise when it comes to identifying, actively developing and investing in businesses related to their sectors. The endorsing body for your Innovator Visa application must be one that has been approved by the UK government, the list of approved bodies changes but an up to date list can be found on the gov.uk website.

Every endorsing body will have a different process for how they evaluate your business and marketing strategies, so it’s important to choose the most appropriate endorsing body for you and that you follow the relevant process that they have.

Some endorsing bodies only open their applications for certain periods of the year, some only accept applicants who have been accepted onto one of their programmes and some only endorse applications for businesses in certain sectors in the UK market. There are important factors to consider when choosing which endorsing body to contact.

How can London Immigration Lawyers help?

The Innovator Visa is very competitive, this is because it offers a much quicker route to permanent residency in the UK than lots of other visas but also because endorsing bodies are limited to how many business plans they can endorse every year.

In order for your innovator founder visa application to be successful, you will need a very good Innovator Visa business plan to give you a competitive advantage. Our immigration lawyers have an in-depth knowledge of the immigration rules and know exactly what it takes to meet the eligibility criteria for the Innovator Visa. Our lawyers can assist you with writing your Innovator Visa business plan with structured planning, and can offer you professional legal advice throughout the application process.

As well as assisting you with your business plan, our lawyers can also help you with other parts of the UK Innovator Visa application process, including the application form and help with gathering your supporting documents.

For more information about how our immigration lawyers can help you, get in touch with our team today on 020 4502 8582 .

You may be interested in reading about.

British citizenship, spouse visa application, indefinite leave to remain, spouse visa extension, skilled worker visa, sponsor licence application.

We can help you if you need help with your Innovator Visa application. Call us now

Last modified on June 9th, 2023 at 1:27 pm

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Business plan drafting

It is difficult to overestimate the importance of business planning both for young English entrepreneurs and companies that already have experience working in the United Kingdom. A business plan is a universal tool to ensure the successful completion of the following tasks:

• Strategic planning for new or existing business projects;
• Attracting additional investment;
• Obtaining loans for business development;
• Obtaining mortgages in UK financial institutions for the purchase of commercial property;
• Applying for a UK visa to relocate to the UK .

No matter what type of company you have or why you need a business plan, Imperial & Legal will help you draft it according to British standards in proper and correct English.

Business Plan for New UK Businesses

If you intend to set up a company, especially if you plan to do this with a partner, a good way to start is to write a business plan. It needs to be quite detailed describing your targeted markets and customers, marketing and sales strategies, and financial forecasts.

A proper business plan will help you highlight all strengths and weaknesses of your business idea, forecast how it will be developing, do detailed budgeting, allocate resources in the right way, set goals, address potential issues and minimise risks.

How can young entrepreneurs benefit from a detailed business plan?

• Highlight all strengths and weaknesses of a business idea;
• Forecast how the idea will be developing;
• Do detailed budgeting;
• Distribute resources in the right way;
• Set realistic goals;
• Forecast and address potential issues;
• Minimise risks.

Business Plan for Operating UK Businesses

A business plan is often an answer to the already existing companies with the following needs:

• Restructuring or expansion;
• Development or improvements;
• Prompt resolution of issues accumulated during the company’s operation.

A business plan serves as a management roadmap for owners and top management that includes options for further development of a business venture.

Business Plan for Financial Planning

Another purpose of a good business plan is to secure investment or a loan from a bank, including through private investments, private capital, venture capital, bank financing, or crowdfunding.

A business plan guarantees a return on investment in due course and helps eliminate risks.

Business Plan for UK Visas

It is required by the Home Office to provide a valid business plan when applying for most UK business visas. However, when a business plan is optional, we still strongly recommend having one. For example, if you apply for a sponsorship licence , a business plan will provide evidence that a company will be operating in the UK.

A good business plan is a mandatory requirement if you apply for a UK Innovator Founder visa or a UK Expansion Worker visa . Why do foreign entrepreneurs need a business plan to relocate to the UK?

UK Innovator Founder Visa

A UK Innovator Founder applicant, just as applicants for the cancelled UK Start-up and UK Innovator visas, must get an endorsement letter before applying for a visa. It can be issued by endorsing bodies that promote relevant business activities in the UK and are authorised by the UK government.

A business idea is evaluated against three criteria: innovativeness, viability, and scalability. Besides, you will not be able to join an already operating UK company no matter how revolutionary your business ideas are. You will have to set up a new company. An endorsing body must get answers to the following questions:

• What business do you want to run?
• What is the demand for your goods or services in the oversaturated UK market?
• Will you be able to register a new UK company to sell goods and/or provide services in the country?
• Do you have enough experience, education, and resources to fulfil your business idea?
• Does your business idea leave room for expansion and further development?

With a business plan drafted according to British standards, you will be able to provide full answers to all the above questions and obtain an endorsement letter for your visa application.

UK Expansion Worker Visa

All the applicants for a UK Expansion Worker visa must draft a business plan and submit a copy together with a visa application.

Foreign specialists will work more effectively when they follow a properly prepared plan. Such a plan also simplifies the new company’s interaction with UK financial institutions, for example, when it comes to opening a corporate account or obtaining a loan for business development.

If you plan to get a UK Innovator Founder visa or one of the UK Global Business Mobility visas but cannot draft a detailed business plan in English yourself, you can contact Imperial & Legal’s experienced specialists. Our experienced team will be able to help you draft a business plan of any complexity as quickly as possible and to the highest standards.

Structure and Contents of Business Plan

A business plan for a UK company must contain 7–8 sections with the following information:

• Summary — a general and brief description of your business idea, market research results, assessment of the company’s prospects, as well as indication of target parameters of the venture and resources needed;
• Review — a mandatory section only for operating UK companies. This is the record of the company’s previous business activities, including financial indicators over the last operating period;
• Management — description of the company’s structure. If a business plan is drafted for an operating UK company, this section should include standard reports on commercial activity as well as the partners’ feedback. The section must also include an action plan in case the company has faced any issues throughout its operation;
• Detailed description of goods or services that you will offer in the UK. It is recommended to focus on the uniqueness of your products, including information about patents;
• Marketing. At the beginning, include the results of the market research, competitors, and clients. An operating company must include information about its size, growth over the previous periods, and expected future growth. You must also indicate who is going to sell your products and how, what channels and resources you will use to promote them, how the price for your goods or services will be formed, and what your sales targets are;
• Information about the company’s location, suppliers, employees, working conditions, and equipment;
• Financial analysis — a section devoted to the company’s financial indicators. It must include a general financial forecast, cash flow for each month for several years ahead, funding timeline, results of audits (if it is an operating UK company), and the company’s performance indicators;
• The final section is usually devoted to planning and prospects. It must include primary and secondary planning objectives, provide information on the venture’s investment needs, and detail the funding options (equity issue, investment, or bank loan) and attraction for investors.

Your business plan must describe your business idea in as much detail as possible, as well as your goals, potential issues, and effective measures to resolve them.

A properly drafted business plan is a kind of advertisement of your future or already existing UK business prepared specifically for:

• An authorised body that can issue an endorsement letter for you;
• Investors or banks so that you can get additional funding;
• Home Office official so that you can get approval for your visa application.

The number of mandatory sections of a business plan as well as their layout depend on your circumstances and goals. For example, a standard business plan would be 20-30 pages of text and tables. If you want to attract additional investment, it should be more like a presentation: not very detailed but containing enough data to allow your potential investors to decide in your favour.

For any business plan, you need to gather and analyse data as well as understand business English and British formatting rules. Imperial & Legal’s consultants are always ready to provide you with qualified assistance at all the stages of business plan preparation for both start-ups and already operating companies.

FAQs about Business Plans for UK Companies

What is the difference between internal and external business plans.

Internal planning is done for the company owners and directors so that they can understand at what stage of development (for an operating company) their business is or get forecasts for the development on the British market as well as highlight existing and potential issues and find effective ways to resolve them.

An internal plan can be in any language. However, Imperial & Legal’s specialists recommend following a structure described in UK standards. To get an objective assessment of your work and prospects in the UK market, you will require external expertise. In other words, you will have to ask an independent consultant who knows the British business environment well to help you.

An external business plan is drafted to get a UK business visa, open a UK bank account or get a loan in a British bank, as well as to attract additional investment. For these purposes, you will need business English and skills in presenting your business and its brilliant prospects in a commonly accepted format. If your business is operating, it will be important to describe its previous activities in the best light. To avoid any complications, it is recommended to contact Imperial & Legal’s specialists.

What are the common mistakes made by young entrepreneurs in drafting a business plan?

Imperial & Legal’s experts share the top three most common mistakes while drafting a UK business plan:

• Lack of preparation is at the top of the list. A foreign entrepreneur would normally have a vague understanding of the British market. That’s why, without preparation, thorough data collection, and professional consultations, they will hardly be able to assess their prospects objectively and provide a realistic forecast of the company’s development;
• The second common mistake is neglecting the UK formatting practices. As a result, a person who will evaluate your business plan may get confused with an unfamiliar layout and refuse a prospective idea;
• The third place, according to our experts, should be given to incorrect presentation of data and errors related to either lack of experience or the entrepreneur’s attempt to exaggerate the data. Inflated financial figures, inaccurate data about your product, and unrealistically short deadlines will cause suspicion in the person who will assess your documents and make the final decision.

You should pay close attention to the weaknesses of your venture, double-check all the data, and engage a competent expert for an objective assessment of the finished business plan. In this way, you will be able to eliminate all the above-mentioned mistakes.

Is it a normal practice to include potential and current business development issues in a business plan?

Yes, of course. A business plan is designed to demonstrate your business idea and its prospects. However, a good business plan is more than just a presentation of positives. Even the most successful ventures face challenges, so the main risks and solutions to potential crises must be included in your business plan.

Investors, banks, endorsing bodies, and the Home Office will trust your business plan more if there is an overview of the current and potential challenges and possible solutions. Mentioning challenges alongside positive indicators is a normal practice for a UK business plan drafting. It proves that you have considered all scenarios in your planning.

What is risk analysis and risk management?

Risk analysis is a separate section of a business plan or part of another section (for example, marketing or management section) that addresses the company’s potential risks.

As a rule, risk analysis is a table with five columns:

• Description;
• Potential consequences;
• Likelihood;
• Risk management.

The fifth column should include information on how to avoid risks, cope with the consequences, and minimise negative impact. Good analysis of potential risks is key to a well-developed business plan.

Need help with writing a business plan?

Imperial & Legal will help you develop and draft a business plan according to UK standards in proper and correct English.

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UK Start-Up Visa Business Plan

From 13 April 2023, the Start-up Visa route will only be open to those who hold a valid Start-up endorsement issued before 13 April 2023. From 13 July 2023, the Start-up Visa route will be closed to new applications. Start-up entrepreneurs who are looking to establish a business in the UK and who have not yet been endorsed should therefore apply for an Innovator Founder Visa instead.

The UK Start-Up Visa opened to new applications on 29th March 2019.  The idea behind the new visa seems to be to encourage more foreign entrepreneurs to come to the UK and contribute to the British economy, with particular ambitions to accelerate growth in sectors such as tech.  It is aimed at Non-EEA national entrepreneurs seeking to establish a business in the UK for the first time.  Unlike similar visa schemes which have existed previously, such as the Tier 1 (Graduate Entrepreneur) visa, it is open to non-graduates and there is no minimum capital requirement.  However, applicants must have a business idea that has been assessed by a Home Office approved Start-Up Visa endorsing body as being innovative, viable and scalable.  More details on these criteria are provided in Part W5.2 of the Immigration Rules:  

• Innovation — does the applicant have a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage?
• Viability — does the applicant have, or are they actively developing, the necessary skills, knowledge, experience and market awareness to successfully run the business?
• Scalability — is there evidence of structured planning and of potential for job creation and growth into national markets?

Endorsing Bodies is an umbrella term for organisations and higher-education institutions which have expertise in identifying, investing and developing businesses in their respective sectors.  They include incubators, accelerators, business development organisations, universities and government agencies.  The list of endorsing bodies is expected to evolve as this visa route matures, with bodies withdrawing and new bodies becoming authorised.  An up to date list can be found here, along with more details about each endorsing body.  

In theory, it is good news that business ideas are now being evaluated and assessed by parties with entrepreneurial experience, commercial insight, and technical knowledge rather than an Entry Clearance Officer who is ill-prepared to make a sound judgment about the viability or otherwise of a particular enterprise.  However, the changes throw up a series of challenges for entrepreneurs looking to make the move into the UK market.  This visa route is more competitive than previous schemes as an applicant hoping to receive an endorsement as a first step to obtaining a visa will have to compete not only with other non-EEA nationals but with UK and EEA applicants too.  This competition is exacerbated by the fact that each endorsing body is limited in terms of the number of endorsements they can offer.  Endorsing bodies currently require specific Home Office approval if they want to endorse more than 25 business ideas per year so capacity is substantially lower than with previous schemes which operated without any effective constraints in terms of the number of applicants.   

Given the competitive nature of the UK Start-Up Visa route and the uncertainty inherent in the process as the new rules and guidelines are put into practice and tested, you may need to lean on our expertise in order to maximise the chances that your attempts to secure an endorsement are successful.  We can help prospective Start-Up Visa applicants in the following ways:  

• We can help you identify and develop an innovative, viable and scalable business idea.
• We can advise you as to which of the endorsing bodies would be the most suitable for you and your business idea.     

Identify and Develop an Innovative, Viable and Scalable Business Idea 

Unlike the previous UK business visa schemes such as Tier 1 (Entrepreneur) and Tier 1 (Graduate Entrepreneur), a strong business plan which is viable and able to expand within the UK market may not satisfy the conditions of the new Start-Up Visa route.  In order to secure a start-up visa endorsement, your business idea will need to be deemed innovative, viable and scalable by the endorsing body.  

Innovative - Prospective applicants need to develop a business plan that brings something new to the UK market rather than a "me-too" business which merely competes with other similar businesses.  Depending on the endorsing body you are targetting, it is possible that a more cost-efficient model or one with a superior but similar product or enhanced customer service may not be deemed sufficiently innovative.  We will help you to take your idea and co-create with you points of differentiation and competitive advantage that will make your business truly unique.  We will also help you find the necessary clarity to accelerate execution.    

Viable - The endorsing body will be looking to support business plans that the entrepreneur and their team can actually deliver and that have a clear and credible pathway to profitability.  We will also demonstrate that you and your team have the skills, knowledge, experience and market awareness to deliver on your business plan or develop a clear plan whereby they can be developed.  We can help you to establish your funding requirements for the two year period of the start-up visa, identify the most suitable source of start-up funding and map out what needs to be done in order to firmly establish your business as a viable venture.  

Scalable - Scaling a business is an often misunderstood concept.  It does not simply mean that the business is capable of getting bigger. That would be true of almost every business.  A business can only truly be said to be scalable if it has operating leverage.  If additional revenue requires relatively smaller and smaller additions to operating costs, you have operational leverage and your business can accurately be said to scale. However, a business that adds revenue and operating costs at an equal rate or even adds costs at a greater rate than it can add revenue cannot be properly said to scale, even if the business could get a lot larger in terms of both their revenues and gross profitability.  We can help you verify that your business idea is truly scalable by carrying out detailed the financial modelling necessary to map out the relationship between revenue and operating costs in your business.     

Advise on Selection of the most suitable Endorsing Body for your Business

Once you have a fully formed business idea that meets the start-up visa criteria, your next consideration for prospective applicants is to select the most appropriate endorsing body for their business idea.  There are several factors that must be weighed up when making a decision.  

Some Endorsing Bodies require participation in an existing incubator/accelerator programme to qualify for an endorsement

As mentioned in the Home Office Guidance, there is no requirement that Endorsing Bodies have to operate an ‘open system’.  In other words, these endorsing bodies can insist that a pre-existing working relationship or activity with the body, such as received investment from them or participated in their accelerator programme, is a prerequisite to endorsement.  Many of the endorsing bodies have, at least initially, adopted this approach and are not accepting ‘open’ or ‘independent’ endorsement applications.  Royal Society Edinburgh, Ignite and Bethnal Green Ventures, are just some of the Endorsing Bodies requiring acceptance on to a programme before even considering endorsing visa applicants. 

Some Endorsing Bodies have Fixed Application Windows

Many endorsing bodies only recruit once or twice a year for entry to these programmes.  For example, Tech X offer places to one "cohort" of applicants each year in May whilst Zinc is currently open for "Mission 3" which will start at the end of September.  There is a chance that your preferred endorsing body will not be accepting applications at the time that you want to move forward with your start-up visa application.  You can check our up to date information on each endorsing body for more details on the application windows for each endorsing body.       

Some Endorsing Bodies are Specialised and Sector-Focused        

Some Endorsing Bodies consider themselves ‘sector agnostic’ and open to a diverse range of business ideas (e.g. SeedCamp, RBS and Natwest) while others are much more specialised and sector-focussed. For example, CyLon focus on cyber-security only, TechX focus exclusively on the oil and gas industry and Deep Science Venture focus on pharma, energy, food and agriculture start-ups.  Other Endorsing Bodies have a regional focus and require investment and/or relocation to a specific area, for example Ignite (focus on North-East) and Med City (London and the South-East).

Some Endorsing Bodies Insist Upon Taking an Equity Stake in your Company

Many Endorsing Bodies state that in return for acceptance into a programme, the investment of funds into your business and the expertise and support offered, they will require an equity stake in the proposed business.  While this might seem a fair trade for some start-up ventures, it will be a cause of concern for those considering the Innovator route who may not require additional investment funds and who have the professional skills and experience to steer their businesses to succeed in the UK market.  

We will help you to identify which, if any, of the endorsing bodies would be most suitable for your business idea and will make the necessary introductions so that you can get started with them on qualifying for a start-up visa endorsement.      

Our Services

There are two services we provide that may be of interest to potential start-up visa applicants.  

Visa Business Plan Review 

For those people that have already written their own business plan but need advice as to whether this is an innovative, viable and scalable business idea that meets the start-up visa criteria and want a recommendation as to which Endorsing Body they should approach, we offer our comprehensive visa business plan review service.  The result is an actionable report with recommendations for improvement of the business model in terms of the degree to which it satisfies the visa criteria and also improvements in the content of the plan itself.   

Visa Business Plan Writing   

If you would prefer to outsource the writing of the business plan to our team, we will ask detailed questions about your business idea and vision during an initial consultation and would then transform it into a visa-compliant business plan in a way that is easy and stress-free for you.  We will then review the full draft together and make sure you know your business plan thoroughly so you can pitch this idea to the endorsing body with confidence and expertise.  Finally, unlike many business plan writers, we will not abandon you during the endorsement process.  The endorsing body may ask questions that you won’t feel fully comfortable answering, at which point you can simply reach back out to us, even if it is months after we finished the business plan and we’ll help clarify anything that comes up.

If you are considering starting a business in the UK and are interested in the Start-Up Visa, please reach out today for a free, no-obligation initial consultation .    

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Crafting an Effective E-2 Visa Business Plan

E2 Business Plan Writing

Whether you're an aspiring entrepreneur, an established business owner, or a visionary investor, the path to obtaining an E-2 visa hinges on a well-crafted business plan. The E-2 visa, designed for treaty investors and their employees, requires a comprehensive E2 business plan that outlines your enterprise and underscores its potential impact on the U.S. economy. In this guide, we'll take a deep dive into the nuances of writing an E-2 visa business plan that is a testament to your commitment and vision.

The E-2 Visa and Its Relevance

The E-2 visa stands out as a versatile option for foreign investors seeking to establish or manage a business venture in the United States. Rooted in bilateral treaties, this visa enables individuals from treaty countries to engage in substantial trade or investment activities, thus fostering economic growth and cross-border collaborations. Central to the E-2 visa application is the business plan – a document that encapsulates the essence of your enterprise and its alignment with the goals of the U.S. economy.

Navigating the E-2 Business Plan Landscape

An effective E-2 visa business plan is not a mere formality; it's a strategic instrument that presents a compelling case to U.S. immigration authorities. The plan essentially paints a vivid picture of your business's past, present, and future – detailing its inception, operational strategies, market analysis, financial projections, and its potential to generate employment opportunities for U.S. citizens.

Key Components of Your E-2 Visa Business Plan

1.    Clear Business Description: Begin by providing a concise yet comprehensive overview of your business. Define its nature, products/services, target market, and unique selling propositions that set it apart in the competitive landscape.

2.    Market Analysis: Delve into the market dynamics, competition, and growth prospects within your industry. Showcase your understanding of the market and how your business intends to capture a significant share of it.

3.    Financial Projections: Present realistic financial forecasts that extend over the next five years. This includes revenue projections, expense estimates, and projected profits. These projections should be supported by sound market research and data.

4.    Job Creation: Demonstrate your commitment to creating job opportunities for U.S. citizens. Specify the number and types of jobs your business aims to generate and how these positions will contribute to the local community.

5.    Investment Strategy: Outline the allocation of funds across various aspects of your business – from initial setup costs to operational expenses. Your investment strategy should be transparent and aligned with the business's growth trajectory.

6.    Business Ownership and Leadership: Clarify your ownership stake in the business and elaborate on your qualifications and capabilities to lead the enterprise successfully. Highlight your track record, expertise, and any relevant experience that positions you as a capable business leader.

7.    Market Entry Strategy: Detail your approach to entering the U.S. market. Discuss your marketing strategies, sales channels, distribution methods, and how you plan to penetrate the market effectively.

8.    Risk Assessment: Acknowledge potential risks and challenges that your business might encounter. A thorough risk assessment demonstrates your proactive approach to mitigating challenges and ensuring the long-term viability of your venture.

Leveraging Professional Assistance: Oxbridge Content - Your Leading E2 Business Plan Service

When it comes to navigating the complexities of an E-2 visa business plan, having a seasoned expert by your side is invaluable. Oxbridge Content, one of the United States' leading visa business plan services, steps in with a profound understanding of the intricacies involved in E-2 visa applications. With a strategic focus on presenting your business vision persuasively, Oxbridge Content offers specialized services tailored to guide you through the business plan creation process.

Oxbridge Content's dedicated E2 business plan service, available at https://www.oxbridgecontent.com/product-page/p/e2-visa-business-plan , is designed to align with the unique demands of the E-2 visa application . Their team of adept professionals collaborates closely with you, gathering essential information to construct a robust and tailored business plan. This partnership significantly increases your chances of securing a successful E-2 visa application by presenting a comprehensive and professionally crafted business plan that aligns with immigration requirements.

Frequently Asked Questions About E-2 Visa Business Plans

·       Q: My Business Is Not Generating Any Income Yet, How Can I Write About A Business That Doesn’t Exist Yet? A: Although your business might not have commenced operations, you can outline your business's projected financials and present a thorough analysis of its potential viability. Provide a clear roadmap for how your business will establish its presence and generate revenue in the U.S.

·       Q: I Will Be Establishing A Startup Business In The United States, What Is Needed In Order To Demonstrate That My Investment Is Sufficient? A: Demonstrating sufficient investment for a startup involves several factors. You should showcase that your investment is substantial and aligned with the financial demands of developing and operating the business. Present a detailed cost breakdown, forecasts, and a comprehensive business strategy that proves the sustainability of your startup. Additionally, your investment should pass the proportionality test in relation to the total investment and business value.

·       Q: Is The E-2 Visa Business Plan The Same As Any Other Business Plan? A: While an E-2 visa business plan shares similarities with other business plans, it requires certain unique elements. An E-2 visa business plan should delve deeper into your personal background as an applicant, the origin of your investment funds, and how your business will positively impact the U.S. economy. It should also outline your commitment to hiring U.S. citizens and your capacity to lead the business effectively.

·       Q: I Am Planning On Opening A Business In The United States, Am I Required To Write The Business Plan Myself? A: No, it's not mandatory for you to write the business plan on your own. Many foreign investors seek assistance from professional business plan writers with expertise in E-2 visa applications. These writers can work closely with you to gather necessary information and create a comprehensive business plan that meets the specific requirements of the E-2 visa application process.

·       Q: What Is the Timeline for the E-2 Visa Application Process? A: The timeline for the E-2 visa application process can vary. After submitting your application and business plan, the processing time can range from a few weeks to several months, depending on factors such as the volume of applications, the complexity of your case, and the specific U.S. consulate or embassy you are dealing with.

·       Q: Can I Apply for an E-2 Visa if I'm Not a National of a Treaty Country? A: No, the E-2 visa is available only to nationals of countries that have a Treaty of Commerce and Navigation or Bilateral Investment Treaty with the United States. If your country is not on the list of treaty countries, you won't be eligible for the E-2 visa.

·       Q: Can I Bring Family Members with Me on an E-2 Visa? A: Yes, the E-2 visa allows you to bring your spouse and unmarried children under the age of 21 as dependents. This provision offers your family the opportunity to reside in the U.S. while you manage your business venture.

Concluding Thoughts

In the realm of E-2 visa applications, a meticulously crafted business plan serves as your gateway to realising your American business dreams. It's not just about meeting requirements; it's about presenting a compelling vision that resonates with U.S. immigration authorities. The collaboration with Oxbridge Content's specialist E2 business plan service empowers you to confidently navigate this journey. By leveraging their expertise, you're equipped with a powerful tool that encapsulates your business's potential and aligns it seamlessly with the goals of the U.S. economy. Explore the tailored solutions offered by Oxbridge Content, and pave your way to a successful E-2 visa application.

Your comprehensive guide to the EB-2 NIW Business Plan

How to write a business plan in 7 simple steps (and business plan template)

11-minute read

Sam Bromley

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It’s important to know how to write a business plan, because it helps you answer questions about your business and recognise potential obstacles before you set it up properly.

Our guide explains everything you need to know, with tips from a successful business owner and a free business plan template.

While not all new businesses start out by writing a business plan, for many it’s an important step. It acts as your guiding document, helping you establish and grow your business, and it has a life well beyond just setting up or applying for funding.

But how to make a business plan, exactly? The first thing to know is that it doesn’t have to be too long and descriptive. You should be able to explain your idea clearly, structuring your plan into sections.

This comprehensive guide covers:

• free business plan template
• what is a business plan?
• how to write a business plan in 7 steps
• 4 top tips for writing a business plan
• how often should you update your business plan?

Download a free business plan template

To get started, why not download your free business plan template, which you can fill in as you work your way through our step-by-step guide?

Keep in mind that a business plan can take several weeks to write. It’s worth doing your research and taking your time to get the best result. And remember, you can continue to update and improve your business plan over time.

What is a business plan?

Starting a business is exciting. You’re bursting with so many ideas, you might be tempted to rush your plan to get to the fun stuff like selling your first product or posting on social media.

A business plan isn’t something you write down when you’re setting up and never look at again. You’ll refer back to it often, making sure you’re hitting your goals and getting the most from the brilliant ideas you come up with at the beginning.

And if you’re looking for funding or investment , your business plan needs to convince people to back your idea.

So it’s not an overstatement to call your business plan the ‘bible’ you’ll use to help establish your company.

And while business plans come in different formats, most of them include the same core sections.

According to Richard Burle, owner of Richard’s Garden Services in West Sussex, a business plan can help you to see where you’re going.

“They help you look at yourself, to make sure that you’re doing the best that you can for your business. That’s why a business plan is really important because if you haven’t got that, you’re probably going to fail.”

Business plan examples

Before you start writing, it might be useful to read an example business plan for some inspiration. A quick Google search will bring up lots of examples.

Whether you’re looking to start a business as a candle maker or dog walker , read some business plan examples to familiarise yourself with how to approach your type of business.

Once you’ve got an idea of how other businesses have written their business plan, it’s time to start writing your own.

How to write a business plan in 7 simple steps

If you’re clear on what you want your business to achieve, plus the key details of how it’s going to work, writing a business plan doesn’t have to be a difficult task.

We’ve broken everything you need to do into a business plan structure you can follow in seven simple steps:

• How to write an executive summary
• Introduce your business
• Analyse the market
• Complete a SWOT analysis
• Consider strategy and execution
• Understand your financials
• Include appendices

Step 1: How to write an executive summary for a business plan

The executive summary is essentially a one page business plan that goes at the beginning of your document. As it’s a snapshot of your plan, it’s often best to write it last.

This section is common in many business documents, from client reports to business proposals for new projects.

It’s designed to hook readers with your idea and give an overview of your plan, including:

• what makes you different
• how you’re going to market your ideas
• how much money you expect to make (and spend)

Step 2: Introduce your business

This is where you jump in and start talking about your idea. This section should include:

• the problem – what’s the need for your business? What’s the problem you’re solving, or what’s the opportunity? Why would people want what you’re selling?
• the solution – how are you solving the problem? What will your business do? How does it meet the needs you’ve identified? And importantly, how is it different?
• your history – how long has your business been established? If it’s new, what’s your experience in the sector or industry?
• business structure – who are its owners and what is its legal structure?

Richard Burle says it’s also good practice to plan “where you want to be in your first year, your second year, third year, and fourth year.”

“For example, the first year I spent by myself working and building up my customer base. Then after the first year, I got more people, more customers, and did the odd job on Saturday as well – so I brought on help for that.

“And then in my second year, I got my first contractor for two or three days a week – and after that it just increased,” he says.

Step 3: Analyse the market

Here you explain industry trends and the competitors you’re up against. It’s where you include the market research you’ve carried out.

This research can be quantitative (based on measurable data and statistics), qualitative (based on gathering individual experiences and opinions), or ideally both. This section should answer:

Where you’re selling (and who to):

• who are your potential customers and what are their characteristics?
• how will you target them?
• how many customers are you targeting? Will that number grow?
• where do those customers shop at the moment?
• do you have any existing customers, or confirmed orders?

Market trends

• how is the market changing? Is it growing?
• are tastes changing? What are the reasons?

The competition

• how will you attract customers from your competitors?
• what advantages and disadvantages do you have against them?
• how do you think your competitors will react when you start out? How will you respond?

When assessing the competition, gardener Richard says it’s not only important to look at the prices your competitors charge but also to list five good things each company does. You can use a competitor analysis to answer key questions about your competition.

Here’s a business plan example of a competitor analysis for a new plumbing company planning to launch in the Epsom area of Surrey.

Step 4: Complete a SWOT analysis

SWOT stands for strengths, weaknesses, opportunities and threats. This is a very important part of your business plan, because it helps you drill down into your idea. You usually format a SWOT analysis in a grid on one page – four squares, one for each section. Then you make notes in each square.

Formatting the SWOT analysis in a grid helps you see how the different elements of your idea interact. For example:

• how will your strengths help you capitalise on opportunities?
• how will your weaknesses amplify threats – and what strengths can help you overcome them?

Completing SWOT charts for your competitors too should help you see how to win business from them.

Read more about creating a SWOT analysis .

Step 5: Consider strategy and execution

Now that you’ve done some analysis, in this section you can explain how you’re actually going to run your business.

Here you’ll include a number of sub-sections:

Marketing and sales

Explain more about your product and service, including its features and benefits. Talk about your pricing strategy, and how you’re going to promote your product. And how exactly are you going to sell? Which channels will you use – is it direct to the customer, online, or through other retailers?

Download our free marketing plan template to get started and read our ultimate guide to marketing for more information.

Where’s your location and what premises are you looking at? Is it suitable for long-term growth? How are you going to keep accurate records (for example, of stock, sales, accounts, and quality control)?

Are you the only one running your business or are you planning on hiring staff? How will you structure your team? Outline each team member’s experience and what they bring to your business. You might also want to include any outside advisors and experts you’re using, like accountants.

Step 6: Understand your financials

Here you detail the numbers – especially important if you’re looking for investment. The financials need to be realistic, accurate, and watertight.

Here’s what to include, presented in raw figures and charts:

• sales forecasts and the cost of goods sold – estimate what your sales will be in the future, listing the goods or services you’re selling as well as the cost of each unit. From this, you can estimate profit
• a profit and loss forecast – an overview of sales, cost of sales, overheads, profit and loss
• cash flow statement – cash flow is what keeps you afloat – with no money coming in, you can’t run your business. The cash flow forecast shows you how much money you generate over a period of time, as well as what you’re paying out
• balance sheet – shows an overall picture of your financials at a specific point in time. The balance sheet summarises your assets (what you own), liabilities (what you owe), and equity (the net difference when you subtract liabilities from assets)

The detail you need here depends on what stage you’re at with your business, as well as the size of your business. You might want to ask for expert help and advice on crunching the forecasts.

Step 7: Include appendices

While the business plan itself shouldn’t be long and complicated, there might be information you choose not to include in the body of the plan. Adding an appendix means that people are able to refer to this extra detail if needed.

This can include graphs, tables, and notes. You can signpost the relevant appendices people should look at throughout the body of the business plan.

Four top tips for writing a business plan

When you’re using business plan templates, keep the following four tips in mind.

1. Know your audience

Remember who you’re writing for – is the business plan primarily for your own use, or are you looking for a loan, or even equity investment? Keeping your audience in mind will help you stay on track.

2. Keep it concise

Make sure your plan is snappy and to the point. While you don’t want to miss out crucial details, you should also bear in mind people’s attention spans. Don’t turn in a 100-page plan.

3. Keep it simple

It’s likely your plan will be seen by people who don’t have intimate knowledge of your industry, so you need to make sure that it’s written in language that’s accessible to people without specialist experience.

4. Don’t forget the presentation

Tables, graphs, and charts can help you get information across better than blocks of text. It’s also worth thinking about how to pitch your plan to investors, potentially in a presentation that gives the toplines from your plan.

How often should you update your business plan?

As your business grows, you should refer back to your business plan regularly. As a minimum, you should be reviewing and updating it at least once a year.

When it comes to reviewing his business plan, gardener Richard focuses on expenses and prices .

“I think about whether I need to increase my prices, adding any extra costs and expenses that are going up – like fuel, clothing, and tools.

“I ask myself ‘can I increase my price?’ Sometimes you can, sometimes you can’t.”

He says it’s important to think about the ways you can increase your customer base and the type of work you want to take on.

“For example, I didn’t want to take on more hedging jobs so I put on my business plan that I was going to get somebody to do it for me.”

Now you’re all set with everything you need to know about writing your business plan. By taking the time to get it right, you can set yourself up for future success.

What are your top tips for writing a business plan? Let us know in the comments below.

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Photograph: Jacob Lund/stock.adobe.com

Sam has more than 10 years of experience in writing for financial services. He specialises in illuminating complicated topics, from IR35 to ISAs, and identifying emerging trends that audiences want to know about. Sam spent five years at Simply Business, where he was Senior Copywriter.

This content is for general, informational purposes only and is not intended to provide legal, tax, accounting, or financial advice. Please obtain expert advice from industry-specific professionals who may better understand your business’s needs.  Read our full disclaimer

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Business Credit Cards for Travel

How do business credit cards for travel work?

Business credit cards for travel fees, are there fee-free business credit cards for travel , best business credit cards for travel , advantages of business foreign use credit cards, disadvantages of foreign use business credit cards, how to apply for a business credit card for travel .

Some business credit cards have been explicitly designed for travel. They may even come with additional rewards – like cashback and the ability to earn rewards points. 

But not all foreign use business credit cards are created equal. Some offer low or no fees for spending overseas in Europe but come with higher fees for spending in the rest of the world. 

And there are others on the market which are completely free of foreign transaction fees no matter where in the world you’re traveling (and spending).

If you travel a lot for your business or spend money abroad, consider getting a business credit card with low or even no overseas transaction charges – letting you spend fee-free wherever your business takes you.

But make sure you don’t lose sight of interest rates and annual card fees when weighing up which foreign use business credit card is best for you and your business.

By and large, business credit cards for travel work in much the same way as other business credit cards and personal credit cards . 

Assuming you are approved for a card, you’ll be able to use your shiny new foreign use business credit card for things like paying invoices, covering travel expenses, and buying equipment for your business.

At the end of each statement period, you’ll be sent a statement showing your balance – or how much you owe on the card. 

If you just pay off the minimum amount, you’ll be charged interest on the rest. Alternatively, you can pay off your business credit card in full each month, which saves you from having to pay interest. 

It’ll always be cheaper in the long run to pay off your business credit card in full and on time each month. 

The main difference when using your business credit card abroad is the fees you are likely to incur. 

Many UK business credit cards charge foreign transaction fees when spending in any currency other than Sterling. 

Overseas spending fees vary from one business credit card to the next, but in some cases they could amount to almost 3% of the value of your foreign transactions. 

This means you could end up paying almost £3 in fees for every £100 you spend on your business credit card while you’re abroad. 

In fact, if your credit card isn’t specifically tailored towards overseas spending, then your next business trip could quickly rack up hefty fees – and that’s  on top of your business credit card provider’s currency conversion fee. 

Additional fees you could incur while spending abroad include commission charges, interest on cash withdrawals, and foreign currency ATM withdrawal fees.

ATM withdrawal fees could be in the region of 3% of the withdrawal amount or £3 – whichever is higher. They are charged on top of the currency conversion fee, meaning a £100 withdrawal overseas could end up costing you over £106, when fees are factored in. 

While many UK credit cards charge various fees for overseas use, there are some business credit cards on the market which have no foreign transaction fees. 

Bear in mind, however, that some of these cards come with annual fees for holding the card – and some are only fee-free in certain overseas territories. 

Before you apply for a business credit card with no or low overseas transaction fees, make sure the small print covers the countries and currencies you’re planning to spend money in.

And at the same time, make time to weigh up whether potential savings on transaction fees might be outweighed by other fees associated with using or holding the card.

The key difference between foreign use business credit cards and other kinds of business credit cards is that foreign use cards are geared towards overseas spending. 

Some business credit cards may entail hefty fees for spending overseas or in a foreign currency, whereas foreign use business credit cards generally have lower fees for spending when abroad.

If you travel a lot for your business – and spend a reasonable amount of money overseas – then a foreign use business credit card with low (or no) fees for overseas spending may be the best fit for your business.

Bear in mind that foreign use credit cards may come with different fees for different territories. For example, a card may be fee-free for spending in Europe but may entail foreign transaction fees when used further afield. 

And when deciding on the best foreign use business credit card for your business, don’t forget to weigh up all aspects of the card: including interest rates and whether the card comes with valuable perks and rewards. 

Cheaper overseas spending

Because foreign use business credit cards are designed to be used abroad, you can expect to pay lower fees for overseas spending compared to other business credit cards.

In the long run, choosing a business credit card with no or low fees for overseas spending could save your business money. Just make sure you weigh up the benefits of these savings with any other fees associated with the card.

Help with cash flow

Business credit cards – including cards designed for fee-free overseas spending – can ease the cash-flow pressure on your business by letting you spread the cost of big purchases. 

Be warned, however, that if you don’t pay off the entirety of your outstanding balance at the end of a statement period, you will be charged interest on what you owe. 

Perks and bonuses 

Some business credit cards with 0% fees for overseas spending may also come with other benefits or perks.

There are business credit cards on the market which not only offer fee-free overseas spending but which also provide cashback or access to reward points.

In some cases, these reward points can be converted into airline loyalty points, potentially allowing you to save even more on future business trips.

Boost your business credit score

Whether it’s a foreign use card or not, using a business credit card responsibly and paying off the balance in full every month shows that your business is a reliable borrower. 

In this way, using a business credit card can improve your business credit score , which may make it easier to access business finance on better terms down the road.

Separate your finances

By keeping all your business spending on a business credit card, you can clearly separate your personal and business finances – just like how using a business bank account can put a barrier between your personal and business finances.

This will allow for simpler accounting and makes it easier to see, at a glance, the state of your finances.

Annual fees

Some business credit cards have no overseas transaction fees but make up for this by charging an annual fee to use the card.

Fees vary from provider to provider, and not all foreign use business credit cards have annual fees. 

You’ll have to consider what you want from a business credit card, as well as your own business circumstances – including how much money you expect to spend overseas – when deciding which foreign use credit card is best for your business. 

Higher interest rates

If you don’t pay off the entirety of your credit card statement balance on time, every month, then your business will have to pay interest on anything you still owe. 

As a general rule, business credit cards tend to come with higher interest rates than personal credit cards or business loans , which are likely to be a better option for longer-term business borrowing.

Personal guarantees 

You’ll generally be required to provide a personal guarantee before your business is approved for a business credit card – including cards with no overseas transaction fees.

A personal guarantee is a legally binding agreement which means that you, personally, will become responsible for paying any debts owed by your business if your business is unable to pay. 

Credit score requirements

Your business credit score will play a role in determining whether you’re approved for a business credit card. 

Your business credit score is distinct from your personal credit score, representing a measure of how reliable your business is at paying back its debts. 

If your business is new or a start up, your own personal credit score may be considered, since your business won’t have had a chance to build up a credit score of its own. 

Once you’ve shopped around, compared business credit cards, and settled on the foreign use credit card which best suits your business, you can apply directly to the credit card provider.

You will need to provide various personal and financial information as part of your application, as well as information about your business. You may also be required to provide a personal guarantee. 

Any prospective lender is likely to carry out a so-called “hard” check on your business or personal credit file. “Hard” credit checks can temporarily harm your credit score, so it’s best to avoid applying for multiple lines of credit in quick succession. 

Assuming you meet the card provider’s eligibility requirements, and assuming you are approved, you will then be sent your new business credit card in the post. 

» MORE: Do I need a credit card?

Image source: Getty Images

About the Author

George Harrison is a lead writer at NerdWallet. A graduate of the London School of Economics, George has worked as a professional writer for almost a decade, with articles appearing…

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Murphy outlines plan to turn the dial on economic performance

Date published: 09 September 2024

Economy Minister Conor Murphy today launched his Department’s Three-Year Forward Look and 2024/25 Business Plan.

The Minister launched the publication at the latest Northern Ireland Chamber of Commerce and Industry Public Affairs Forum.

Following last week’s Executive announcement on the publication of the draft Programme for Government, the Minister outlined how the 41 actions contained in the publication will help turn the dial on our economic performance. 

He said: “Creating more Good Jobs will ensure that working families enjoy a decent standard of living. Increasing productivity will be the fundamental driver of overall living standards. Promoting regional balance ensures that everyone shares in the benefits of prosperity. And decarbonising will safeguard the planet for future generations. “In pursuit of these objectives my Department will tailor its interventions to the needs of specific sectors. It will develop clusters of businesses and gear its support to start-ups and local SMEs. It will take full advantage of the export opportunities created by Dual Market Access. And it will embrace the potential of the all-Ireland economy.”

The Minister explained that since taking office much work has already begun to ensure these objectives become a reality. He said:  “Action Plans have been published to grow seven of our most innovative, productive and export-orientated sectors. Co-design groups have been established to develop the tourism and social enterprise sectors. A consultation on a landmark Good Jobs Bill is underway. “A Taskforce is producing a plan for 10,000 students at Magee campus. College lecturers have been given a substantial pay uplift and a new £12million fund has been announced to address skills shortages. Licensing of onshore oil and gas exploration and production has been ended.”

He concluded:  “This 2024/25 Business Plan and three-year forward look sets out how, working in a spirit of partnership, we will continue this programme of change.” Suzanne Wylie, Chief Executive, Northern Ireland Chamber of Commerce and Industry, said: “We welcome the objective of the plan to deliver on the priorities set out by the Economy Minister earlier this year in his economic vision. They strongly align with NI Chamber’s core areas of focus including competitiveness, the future workforce and energy transition. "There is work to be done, and opportunities to realised, and at NI Chamber we look forward to continuing to facilitate that vitally important work through direct engagement with business and by presenting evidence based solutions for better growth. “What matters now is effective partnership, not just with the Department and the Minister, but with the Executive as a whole, to create an agreed competitive proposition of Northern Ireland as a place to work, do business, and invest.”

A copy of the Department’s Three-Year Forward Look and 2024/25 Business Plan is available on the DfE website . 

Notes to editors: 

1. The Department may take photographs and videos at announcements and events to publicise its work. Photographs, interviews, videos or other recordings may be issued to media organisations for publicity purposes or used in promotional material, including in publications, newspapers, magazines, other print media, on television, radio and electronic media (including social media and the internet). Photographs and videos will also be stored on the Department’s internal records management system. The Department will keep the photographs and recordings for no longer than is necessary for the purposes for which they have been obtained. The Department’s Privacy Policy is available on our website. 2. To keep up to date with news from the Department for the Economy you can follow us on the following social media channels:

X – @Economy_NI Facebook – @DeptEconomyNI Instagram – economy_ni LinkedIn – Department for the Economy NI   3. For media enquiries contact the Department for the Economy Press Office at [email protected]   4. The Executive Information Service operates an out of hours service for media enquiries only between 1800hrs and 0800hrs Monday to Friday and at weekends and public holidays. The duty press officer can be contacted on 028 9037 8110.

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What's a dal-chawal' fund and why should it make up 80% of your portfolio?

The term "dal chawal funds" was coined by radhika gupta, ceo of edelweiss mutual fund, in response to the numerous investment scams that have plagued the indian stock market..

Radhika Gupta, MD and CEO, Edelweiss Asset Management Company

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• Diversified Portfolio: These funds typically invest across a wide range of sectors and asset classes, reducing risk and ensuring steady returns.   
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• Consistent Returns : Dal chawal funds aim to provide consistent returns over time, even during market downturns.   
• Balanced Funds : These funds invest in both equity and debt instruments, providing a mix of growth and stability.   
• Multi-Cap Funds : These funds invest across different market capitalization segments, offering diversification and potential for growth.   
• Large-Cap Funds: These funds invest in large, well-established companies, providing relatively stable returns.   
• Mid-Cap Funds: These funds invest in mid-sized companies, offering higher growth potential but also higher risk.   

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First Published: Sep 10 2024 | 9:58 AM IST

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