ArticlesBlog

Start up visa business plan examples + costs (for 2019) 🇬🇧 ✅️

Start up visa business plan examples + costs (for 2019) 🇬🇧 ✅️


What are some example business plans for
the UK startup visa. I’m going to take you through some examples step by step
and look at how much each of them costs. So let’s make a start. By way of
introduction, I’m Tom Bradford I’m a UK based lawyer I’m a partner. Now top 50
your firm and I’d be delighted to help you if you’re considering this visa
route I have a fixed price service that covers everything and takes you right
through to citizenship and helps you make a success of your UK venture you
can contact me for a free consultation my whatsapp details are below you can
message me on whatsapp or drop me an email so the basic cost for the startup
visa is fifty thousand pounds. Now the reason I say that is that although the
there is no minimum investment and it’s only the innovative visa that has the
fifty thousand requirement one of the easiest routes to settle in the UK is to
invest fifty thousand pounds in your business in your UK venture. Now that’s
not the only way to do it and theoretically you could go through and
not invest that sum but the practical reality is you’ll need to have a
business plan that is financially viable and for it to be financially viable
you’re going to have to have at least that sum. Now I have heard some agents
who’ve before I’ve had clients they’ve gone to spoken with other agents and
have been told that 25,000 or something like that is enough I can’t really see
how any business that’s innovative is gonna cost twenty five thousand to
implement I mean I I just don’t see how that can fly but I’d be happy to
consider any ideas on on their merits I mean let me take you through some
examples. Now so these are all taken these these extracts and quotes are
taken from the JH media group in their excellent article which I will link in
the description and below so one of the main areas that I’ve looked at with you
before in this series of videos is the SAS product so
software-as-a-service and the fact that you if you have a
perhaps a traditional or sector business such as manufacturing or trading how you
may either already have the beginnings of or can develop a software as a
service tool or product which supplements your existing business and
brings it within the innovation criteria. Now innovation basically refers to the
innovation economy the idea needs to be new but as I’ve said before in this
series it that doesn’t mean unprecedented it could be a new take on
an existing idea the innovation economy broadly encompasses digital and
technology it’s not exclusively related to that I have kinds in the creative and
music sector who are using this this this category because there’s innovative
aspects of their business and clearly there’s an overlap between creativity
and innovation but what I’m specifically going to look at here is what does it
cost to implement a software-as-a-service
business for the purposes the startup visa. Now the startup visa is geared
towards people with the in Alec concept stage so-called early-stage
entrepreneurs that basically means they’re at concept stage your idea
crunch stage if you like and are looking looking at whether something is viable
so I think all of this is relevant because you’ve got to look at the
costumes of the business in your business pattern perhaps the most
crucial part of it is the viability assessment that primarily means
financial viability so what they’re looking at and this goes for both the
endorsing body and the home office upon any you know genuineness review is what
are you proposing to do and how much is it going to cost to deliver that. Now as
I said in yesterday’s livestream there’s got to be there’s gotta be two aspects
of the business plan one is the the problem that you’ve identified in the
second is you know how you’re going to solve it but really it
and on the solution side of that what is it that you are actually going to
develop and how much is it going to cost I’m to deliver that so let’s have a look
at a SAS product as I say software as a service product so so the article says
our experience building software as a service has revealed a few wide ranges
for SAS development a soft a SAS tall typically ends up somewhere in the 15 to
100k range with the majority falling more towards the middle so that’s kind
of ideal for our purposes the purposes of the 50000 root that’s that’s bang in
the middle so 50,000 should on there estimate be generally viable for
developing a SAS tool but you’ve got to carefully look at I know how you’re
going to go about investing that and of course you’ve got to invest it in order
to qualify for settlement unless you fall under one of these other limbs like
into job creation limbs which as I’ve said in previous videos may be tricky to
satisfy it’s for SAS platforms there is a larger range falling between 50,000 to
250,000 so this is referencing dollars so you can decrease these numbers for
four pounds of subject to exchange rates again and platforms have more features
more time and money in terms of planning and develop and development and this is
a crucial point when you’re looking at the Minimum Viable Product it’s
sometimes best to start with a tool rather than with a platform the
platforms on the whole is going to be a collection of of SAS tools so the more
specific you can make it and the more niche the marketplace and the the better
the end cost is largely developed largely dependent on how many times you
need to backtrack be sure to rethink your functionality design or how the
system will best suit your uses one of the most costly mistakes we see
unfortunately far too often is a client who has already spent half of their
budget or more I need to scrap the original build due to poor planning and
a discount development team so and I’ve actually personally seen this with
clients who have already made an investment I you need to be
I mean Boeing’s touch base with me first on the viability assessment in terms of
the immigration rules but before you go ahead or if you already have a tool in
platform this isn’t an issue but many people are looking to either improve or
optimize an existing platform or toolset as part of their their business for the
purposes of these the visas or if they’re looking to develop something
completely afresh then it’s best to have a good team on board either you know the
authors of these of this article as I say or I actually work with a software
development team that could assist you or give you a quote so the next point is
there’s a loss of competition but also lots of niches that are not filled yet
but the sheer amount of money at play in a market that’s set to grow
exponentially it’s no wonder that many forward-thinking businesses and
entrepreneurs are working to create sustainable SAS systems and this is
really what the innovation economy is all about and why the UK government with
the startup visa and innovative visa is looking to bring these sorts of
businesses in it wants to target the innovation economy rather than the
traditional sectors such as manufacturing or trading but SAS
products are very much translatable into the traditional industries and this this
further quote demonstrates the point says good news recent statistics show
SAS trends looking great such systems have taken over much of the online and
b2b markets over the last 20 years in fact 78% of organisations intend to run
at least 80% on SAS by 2022 and the overall market for cloud-based
operations is already valued in hundreds of billions divided between SAS
I asked in other words information as a service and others so that just
demonstrates the opportunity in traditional sectors businesses are
transforming from there you know manual ways of working to automated ways of
working through such products. Now here we are real world examples of SAS
pricing models so what they say in this article is that the lowest cost SAS
product they’ve they’ve come out with as a successful Minimum Viable Product cost
fifteen thousand so it may be that that the original outlay that you have to
make is something in that region an advanced form building and survey system
for the niche market which took three years and consisted of two to
three-month phases with lots of testing cost eighty five thousand which
depending on the exchange rate is about you know fifty thousand pounds a
directory service with advanced searching and an advanced admin area was
fairly cheap at only thirty thousand pounds the project involved manually
mining data from the internet and Campanas centralized database where it
could be bundled and sold the service utilized enhanced data entry features to
ensure high levels of productivity from the workers so that’s that’s another
example I mean and that only cost thirty thousand dollars so maybe twenty
twenty-five thousand pounds at the moment again an example of something
that may be deliverable. Now of course in all of these cases you have to see how
this translates into your own experience and expertise and the particular sector
you are operating in or the particular business that you’re running
in the next example a healthcare system so I’ve got I’ve got at the moment
three health care clients one of them is is being an endorsed by one of the
endorsing bodies if you want to touch base with me about any health healthcare
medtech type products please do be happy to discuss them with you so this was a
health care system more specifically a health care practice management system
which would interface with machines and hospitals and this says it took a few
years and five hundred thousand to develop so some of my clients who I’m
assisting come to me with a ready-made business though which is in the
innovation economy which they’re extending to the UK for a new UK entity
in in in that case of course they’re not starting with a blank sheet of sheet of
paper and they already have the the business and it may be that the there’s
very little implementation cost because the business is already up and running
but what I want to look at and the primary purpose of this video is you
know what you should think about for the initial outlay if you’re building a
product I’m under the startup and innovative visas so the next one next
point says lastly a complex SAS platform that was conceived built and marketed by
our team and the initial build was between 35 and 40 thousand dollars and
over 250,000 invested in us in the software to date but the initial build
was 35 to 40 thousand so I think what all of these examples show is that if
you’re looking at you know 50 thousand as your starting point then that is a
budget that is realistic for delivering a software-as-a-service or information
to service and type product and in each case your product is going to be unique
it’s got to be new that’s a requirement of of the visa new can be a new take on
an existing product the business plan in order to be viable will need to be
costed and I hope these examples are helpful in allowing you to do that so
I think an essential thing to do perhaps once you’ve touch base with me
is to get a quote whether with the partners i have or if you have your own
contacts from them which gives the costing of the of the build-out. Now I
have another video which is about the the secret to getting endorsed if you
like what are those additional elements that you ought to be thinking about when
you’re preparing your business plan I’m going to link that in the information
card I’m doing this as a live stream so I’ll put that up afterwards and on the
end screen check out that video for the additional factors you should be
thinking about when you are preparing your business plan for the startup visa
or innovative visa I hope this was helpful and I look forward to seeing you
in the next video bye for now.

Comments (5)

  1. Good job 👏

  2. Hi sir, my 2 brother in low n their family has British passport, can they apply for us???and we applied business visa in 2014 but it’s been rejected kindly advice pls sir, we would like to apply again if possible

  3. Hlo sir.
    I am from pakistan and I want to apply for startup visa, my educational qualification is 12 year. Guide me how to get endorsement letter

  4. Hi Tom, thanks detail information provided , I live and work in Qatar, looking to make an investment of 50k£ to get the citizenship wih family. Need somemore information, should I email you or do you have any connections in doha to whom I can meet and get clarified. My interest of investment will be in restuarant

  5. hello sir! i need a help from you. i want to make a grocery shop business in uk. how can i make a grocery business plan. can i apply in grocery business because this video is all about technology.

Comment here