Getting the Business Plan Right is Key to Visa

Visa Kings Global is familiar with the local business environment as well as the approval process and works with a team of professional writers who can help you put together a business plan that fits your profile

If you are seeking to obtain a Skilled Worker visa through your own U.K. company via self-sponsorship, a robust business plan is critical to the success of your endeavour. The U.K. is of course one of the easiest places to register and set up a company but drawing up a viable business plan thereafter is key to impressing the Home Office to award you the necessary permits to enter and work in the country.

You also cannot use a template plan to accompany your application, or cut and paste from another previous one, as every business plan really needs to be tailored to your profile and your unique business proposition. Visa Kings Global has been putting together business plans for visa applicants for years and we work with a team of professional business plan writers. It would be good for you to work with us to put together a business plan that specifically meets your needs and would appeal to the Home Office because the business plan is really the heart of your visa application.

So, what should the business plan contain? The first consideration of course is to build a plan to fit your skills and experience. What is it that you feel most comfortable doing, what role do you have the greatest competence in and which industry have you spent the most number of years in? Which area of business do you feel most confident of having the greatest success? These would be very important questions to answer, and the answer doesn’t really have to be from any specific industry. Your business could be from any number of segments, including real estate, services, restaurants, tutoring, consulting, etc.

A second consideration is the amount of money you are prepared to invest in the business. There is no minimum funds requirement for an application made for a visa through self-sponsorship, but the Home Office would certainly feel more comfortable if you are prepared to put up at least £50,000 to support your venture. You should also possibly have access to some more funds lest your business need further support in later years.

Another key attribute of the business plan would be the local business and operating environment. A familiarity with the local economy would be crucial to put together a credible business plan. The demand profile for your business, the prevailing competition and how your products or services would be priced. Finding the right kind of people that suit your business would be the next step, employees as well as the more qualified people who could possibly be a part of your board. These are features that the Home Office would look at.

A final step in the process would be to produce the financial projections for the business. This would include the profit and loss statement, the balance sheet and possibly the cash flow statement. How much cash would your business generate and when would it? Would that be sufficient to sustain operations or would it need a further cash injection down the years. These would all be good questions to answer.