The Startup Visa provides an opportunity to those wishing to start their business in the UK. Applicants need to have their business plan endorsed as part of the application process. This is a service that Boardroom Advisors now offers.
What is the Startup Visa?
The Startup Visa is similar to the Innovator Visa that Boardroom Advisors already provides endorsement for. It is open to people who will bring new businesses to the UK that either fill a gap in the market or bring a new approach. The aim of these visas is to bring value and create jobs for UK workers.
The visa lasts for two years and offers both the founder and their family the right to live in the UK to work on the business. With the Startup Visa there is, however, no requirement to have investment in the business before you apply. You only need to prove that you are financially stable and will be able to support yourself with your savings.
Applications for the visa are done online. Endorsement from one of the licensed endorsing bodies is required to apply for the Startup Visa. These are successful UK businesses that will assess your business plan and give it their approval for your application.
They will check your personal and business details to make sure you meet the eligibility criteria set by the Home Office.
The assessment criteria for the business plan are:
- Innovative – brings something new that isn’t covered by an existing UK business
- Viable – will be successful and thrive in the UK
- Scalable – has the capacity to grow and create more jobs
If your business meets these criteria, and your application is successful, your endorsing body will also be the one to monitor your progress throughout the 2 years of the visa.
The similarities between Startup and Innovator Visas allow us to bring our highly successful process to help you start your business through the Startup route as well. We now offer our assessment programme to those wanting to apply for the Startup Visa, with the only differences being that it will last the 2 years of the visa rather than 3 and the investment needed in the Innovator Visa route.
Our Strategic Reviews are a tried and tested process that has helped many businesses develop their business strategy. We use it to help UK based business, and it now forms the core of our assessment process.
The programme involves:
- Internal research
- Strategic workshop
- Follow up meeting
We have a large catalogue of business strategy tools such as SWOT or MOST analysis that can be matched to best fit your business. It will be those tools that were used in your initial assessment that we will revisit in your 6 monthly and annual reviews to help you stay on track. These reviews will involve our expert Advisors and keep you involved.
You won’t just get an impersonal assessment where you hand over data and we tick off boxes. We will discuss your progress and provide the support you need to keep achieving your goals. Our programme structure is designed to bring as much value to your business as it can.
Boardroom Advisors has over 150 Advisors across the UK. All of them are experts in their fields of business. They have all demonstrated success in scaling up and running previous businesses.
Your Advisor will be a valuable asset to your business as it finds its feet and will bring all their experience to bear to help your business grow. We also offer additional support where you can hire an Advisor on a more regular part-time basis.
Our Advisors can sit on your Board as Part-time Directors. This allows them to be more heavily involved in helping you grow, without you needing to make the significant investment that comes with a full-time Board level employee.
How to apply
To apply to get an endorsement for your business, simply fill in our application form. More details on our process and how to apply can be found on our Startup Visa Programme page. Contact us to talk to one of our Regional Directors and see how we could help you.