Sohrab Vazir
Consultant | Founder | Global Citizen | Writer
5 elements of a good business plan
Writing a good business plan can be a challenging task. In essence, business planning is the first major challenge an entrepreneur faces as it is a blueprint of their venture. In this article, I will outline 5 elements that make a good business plan. This is based on my own experience as a tech founder, consultant and writer. Writing a good business plan goes beyond proposing a viable business proposition. It entails clear articulation, milestones, well-written content and a thorough blueprint of how your business will succeed. There are plenty of articles that will refer to the basic and compulsory parts of a business plan such as SWOT analysis and regard them as factors contributing to a good business plan. However, my aim in this article is to provide you with the correct mindset and approach to: With the aforementioned in mind, let’s highlight the 5 key elements of a good business plan. Inclusion of the key standard sections Okay, so let’s briefly highlight an obvious part, which many entrepreneurs surprisingly fall short of. Regardless of the purpose of your business plan and where you are, several key sections must be included in every business plan. These key sections are: Clear & realistic business vision Entrepreneurship and starting a business require vision. And it is fantastic to set high goals. Nevertheless, this is where many entrepreneurs make a mistake. And the mistake is that they “fly too high” and set goals and visions that are essentially unrealistic. Your vision and anticipated goals should be realistic and based on market trends supported by research. Clear business milestones The ideal business plan is not a fancy document to impress your investors or other parties. It is the blueprint of your business as a commercial entity. And what does a blueprint entail? Clear procedural steps with timelines and outcomes. Moreover, this is not just related to one part of the business plan, for example, product development. Each aspect of the business (plan) should be subjected to prior anticipation with clear input/output estimations, whether it is product, marketing, sales or anything else. Objective market research and avoiding the “founder bias” As stated earlier, I will not highlight standard business plan sections. However, this part is crucial and you notice that I have used the word “objective”. You may have a business proposal that does respond to a genuine market need. However, this is where what I call the “founder bias” kicks in. The “founder bias” is when a founder only states market research that supports the notion that there is a need for their product and/or service. This eliminates the “objectivity” aspect. Your plan must be supported by objective market research, and this is why a business consultant like me is useful. By highlighting all the facets of the market, you demonstrate enhanced commercial awareness. Plus, it enables you to anticipate and prepare for unexpected market shifts and how to respond accordingly. Money, money, money (the financials) Regardless of the type of project, the primary goal of a venture is making money. Even if you are starting a non-profit/charity, your finances matter the most. This is one of the most neglected aspects of many business plans. You must anticipate and account for cash inflows and outflows of your business. And I get it: this is perhaps among the most difficult aspects, and hence why it is often neglected. However, without a financial analysis that is subject to scrutiny, you are almost always doomed for failure. About | My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats. I grew my business to over 30 UK cities, and a team of four. I now help other migrant entrepreneurs and all founders with their businesses, including their business plans.
Innovator Founder Visa | Policy Analysis
Just over a month ago, I created a YouTube video exploring the policy flaws of the UK’s Innovator Founder visa. This article is essentially a reflection of the same video, highlighting three fundamental policy flaws surrounding the Innovator Founder visa requirements. *Please note that this content is merely a reflection of my personal opinion and evaluation and does not constitute immigration advice in any shape or form. If you are seeking immigration advice, please refer to OISC to find a registered immigration advisor/solicitor.* According to the UK Government’s website, the Innovator Founder visa allows international entrepreneurs to set up businesses in the UK. Full details of the visa rules can be found HERE. The purpose of this article, however, is not to outline the general information about this visa. I have written this blog post to: –Highlight the flaws that other founders may resonate with; –To draw the attention of policymakers towards the anticipated flaws of the Innovator Founder visa and how it may potentially harm the UK in the short and long term So, let’s explore the flaws of the Innovator Founder visa policy. The low number of Innovator Founder visa endorsing bodies This is perhaps the major weakness of the Innovator Founder visa policy. This is especially the case when one takes a comparative evaluation between this visa path and its predecessor, the Innovator visa. There are currently 3 endorsing bodies overseeing all applications made under the Innovator Founder visa pathway. This excludes the Global Entrepreneurs Programme (GEP) which is administered by the Department for Business and Trade. The aforementioned is in contrast to over 20 endorsing bodies that had the authority to issue endorsements for the former Innovator visa. Moreover, the previous endorsing bodies included well-established and reputable accelerators such as Founders Factory. To summarise the key issues in relation to the number of endorsing bodies: High endorsement & visa fees Another major issue which may discourage many prospective applicants is the high visa fees associated with this visa pathway. Let’s look at the initial costs associated with the Innovator Founder visa (and these are for single applicants only): As you see, you are paying a minimum of ÂŁ3000 to simply make an application under this visa pathway. By setting such high fees, the UK Government has failed to consider the long-term economic contribution of international entrepreneurs to the UK. Not applicable to all The Innovator Founder visa is likely to not be applicable to every single founder. And the manner in which this is evident is through the three key business idea requirements, which are: Whilst on the surface, the abovestated factors may seem appropriate, they are not practical in action. For instance, the viability requirement may only be evident once a business actually begins trading. Yet, this visa is also aimed at entrepreneurs who wish to “set up” their business in the UK. Another instance where the lack of applicability of this visa path is reflected is the removal of the former Startup and Tier 1 Graduate Entrepreneur visas. These visa routes were specifically aimed at founders who were to set up their business in the UK. Personally, I underwent the Tier 1 Graduate Entrepreneur route myself under the endorsement of Newcastle University. Currently, the Innovator Founder visa is a mashup of all founders, from all backgrounds and regardless of their business nature/stage. Final notes Entrepreneurship is fundamentally unpredictable and involves a core element of risk. Combining this with stringent and unfeasible immigration requirements does not provide an optimal outcome for any stakeholder. Moreover, it will only serve to weaken the UK’s global position as an entrepreneurial hub. I appreciate that policymakers ought to ensure that genuine and innovative migrants move to the UK. Nevertheless, policies should be drafted in such a manner that involves a thorough comprehension of entrepreneurship and also mitigates the risk between the government and international entrepreneurs. Need help with the Innovator Founder visa? I am the UK’s #1 & leading business consultant for international entrepreneurs. Whilst I do not provide immigration advice, I am able to assist in multiple areas such as drafting your Innovator Founder visa business plan. For a full overview of my services, please refer to my homepage here. About | My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats. I did so by obtaining an endorsement from Newcastle University under the Tier 1 Graduate Entrepreneur Scheme (similar to the current Start-Up Visa). Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (replaced by the Innovator Visa). I grew my business to over 30 UK cities, and a team of four, and also obtained my Indefinite Leave to Remain (Settlement) in the UK. I now help other migrant entrepreneurs, such as myself, with their businesses, and mainly with obtaining endorsements from the endorsing bodies.
5 lessons that you learn when you immigrate to another country
Deciding to immigrate to another country is life-changing. It will affect virtually every aspect of your life. I immigrated to the UK from Iran when I was only 17 years old, all alone. Today, over a decade later, I want to share 5 lessons that immigration taught me. If you are considering immigrating to another country, chances are that you want to make a change in your life. That’s awesome; I have so much respect for anybody who takes active steps to improve their lives. However, if this is your first time immigrating, which is the case with most people, you are probably unaware of the implications that this may have for your life. As such, I wish to share 5 key lessons that I learned after I immigrated to the UK during my formative years. 1. Most people don’t care about you This begins to hit you as you find yourself alone in your new “home”. I don’t mean that you will necessarily be lonely, I certainly wasn’t. For the most part, my years as an immigrant were the most social years of my life. I made so many friends and I actually cannot count the number of people that I met. However, this does not mean that you can rely on others. You really are on your own, and your problems are unique to you. Let me give you an example: many of my friends, and my close circle of friends in university were British. Despite our close friendship, they simply could not resonate with me or my “immigrant” problems such as worrying about staying in the UK after graduation. This is a tough lesson, initially. Nevertheless, it is also a chance to build that “immigrant resilience” and self-sufficiency that helps you achieve greater things later in life. 2. And the above includes family members Now, I do not wish to generalize here, as everyone’s family members are different. And by this, I am not necessarily referring to immediate family members such as parents. However, when you do immigrate, you will face barriers and problems in your life. And guess what? Tough times show you who really cares, and who does not. Do not be surprised if you notice that you have lost contact with family members whom you regarded as life companions. It is a sad reality in the world that failure and hard times are also very lonely. 3. You may lose your identity after you immigrate Once you settle in after you immigrate, and integrate, you may lose touch with who you really are. You may begin to question your identity, your core values, your culture and so on. This is not necessarily a bad thing. Having this “comparative” outlook broadens your mental horizon. However, it can be a difficult issue to face. Moreover, I firmly believe that our “values” strongly affect how far we get in life. Questioning your values will help you understand what your life purpose really is, and isn’t. 4. Do not expect a red carpet to be laid down for you Let me be absolutely clear here, and I am sorry to be the bearer of bad news: immigrating, in many scenarios, means that you are socially subordinate. The logic is essentially that “you have immigrated to this country because it is somehow better than yours”. Thus, be ready for many people to misunderstand your culture and where you come from. 5. The only way to survive is becoming stronger and wiser As I said, you are on your own. This is a fact of life, and it is reinstated even more once you become an “immigrant”. You will face injustice, discrimination, and unfairness. Yes, it sucks. But that’s a reality. My advice to you: do not fall into the victimhood mentality. Improve your physical and intellectual capabilities every single day. When I came to the UK as a college student, I was a skinny teenager who could barely write a formal email. Today, I’m an athlete, and a leading business consultant and hold a master’s degree in law. These are the lessons that I learnt after I immigrated to the UK. I hope these help you prepare for your journey and give you a realistic outlook of what to expect. About | My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats. I did so by obtaining an endorsement from Newcastle University under the Tier 1 Graduate Entrepreneur Scheme (similar to the current Start-Up Visa). Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (replaced by the Innovator Visa). I grew my business to over 30 UK cities, and a team of four, and also obtained my Indefinite Leave to Remain (Settlement) in the UK. I now help other migrant entrepreneurs, such as myself, with their businesses, and mainly with obtaining endorsements from the endorsing bodies.
5 disadvantages of moving to the UK as an international entrepreneur or skilled migrant
If you are an international entrepreneur or skilled migrant, and thinking of moving to the UK then you have likely considered the pros and cons of doing so. This article will highlight 5 disadvantages of moving to the UK as an international entrepreneur or skilled migrant. I have recently made a YouTube video covering the topic of moving to the UK as an international entrepreneur or skilled migrant. So, if you’re a “video person” then feel free to browse this topic on my YouTube channel. Nonetheless, let’s talk about moving to the UK as a founder or skilled employee. Most businesses operating in the immigration sector will overwhelm you with the advantages of considering the UK. And they are not necessarily wrong, there are plenty of advantages to moving to the UK. However, my goal is to be as authentic as possible, and represent the interests of international entrepreneurs and skilled professionals migrating to the UK. As such, I deemed it beneficial to dedicate an entire blog article/video to the disadvantages of moving to the UK. This is in light of the current political, economic and social landscapes. So, with that in mind, let’s look at the five disadvantages of moving to the UK on an Innovator Founder visa or as a skilled migrant. The social life (or lack thereof) As mentioned in the video, the UK’s culture is more reserved in contrast to many others around the world. This is simply a fact that you must accept. Nor should you expect a host country to change its culture for you to adapt. Nevertheless, my point here does not refer to the reserved nature of the UK’s social fabric. It refers to a sense of looming “dread” that has taken over the British Isles, especially after the 2020 Pandemic. The majority of people in the UK, with the exception of students, prefer to simply go to work and sit at home and watch TV. Other than that, there’s the culture of binge drinking, which may not appeal to everybody. This can also be partly blamed on the current cost of living crisis, as well as the rise of social media. The latter, in my opinion, has led to a decrease in people’s socialising skills and authenticity. Therefore, if you come from a people-oriented society/culture, which is predominant in Eastern cultures, this can be an issue. The UK’s polarised society There is a major divide between different segments of the society within the UK. As explained in the YouTube video, the key dividing factor in the UK is socio-economic class. Regardless of being wealthy or not, you are somehow demonised by each class. The housing crisis Britain is facing a major housing crisis. I’m sure you can guess the outcome: you have to spend more for less. The UK has a demand-supply deficit of over 4 million homes, according to a report by the Centre for Cities in 2023. Hostility & micro-aggressions that drain your mental health This is a byproduct of several issues such as the current politico-economic climate. Notably, issues such as the refugee crisis and so on. The purpose of this article is not to deconstruct these issues. I aim to paint a clearer picture of issues that international entrepreneurs and skilled migrants may face upon arrival in the UK. The everyday micro-aggressions and general tension within the UK society will eventually be draining. Plus, they add to the many problems that come with being a skilled migrant. In my personal case, for instance, I substantially noticed this when using the NHS services, which I thought was quite unfair. Especially given that I was paying for it via the NHS Health Surcharge. The immigration system Lastly, there is navigating the UK’s immigration system, which is constantly changing and subject to increased and strict scrutiny. Moreover, there is the issue of fee increases on a regular basis. This can really disadvantage certain migrants such as international entrepreneurs. Of course, this is not to argue that the immigration system should accommodate everybody. International founders and skilled migrants are investing their time, skills and money. Thus, this can become a negative factor. These are the 5 disadvantages of moving to the UK as an international entrepreneur or skilled migrant. If you are still considering moving to the UK, and need help, feel free to drop me a message. This is particularly applicable to international founders considering the Innovator Founder visa and who need help with things such as their business plan. About | My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats. I did so by obtaining an endorsement from Newcastle University under the Tier 1 Graduate Entrepreneur Scheme (similar to the current Start-Up Visa). Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (replaced by the Innovator Visa). I grew my business to over 30 UK cities, and a team of four, and also obtained my Indefinite Leave to Remain (Settlement) in the UK. I now help other migrant entrepreneurs, such as myself, with their businesses, and mainly with obtaining endorsements from the endorsing bodies.
8 skills that will help you succeed in business and employment
The business and employment skills landscape is constantly evolving. Therefore, it’s crucial to keep on top of your game and ensure you develop the right skills to succeed in business or employment, regardless of being an entrepreneur or employee. You have probably wondered what skills makes people successful in business and employment. And there is never a straight forward answer as it is a combination of multiple factors. However, it is indisputable that you need to have the right skills to succeed in either business or employment. In this article, I will highlight 8 skills that will contribute to your self-development and ultimately succeeding in business and employment. Articulation & communication Almost every aspect of business and employment boils down to communication and the “people” factor. Whether it’s sales, leading a team or a job interview, communication is a core element. Success in business and employment is highly dependent on fostering mutually beneficial relationships. Therefore, it’s a skill that you must actively develop. Now you notice that I used the verb “articulation” here, and it’s because you may be a good communicator, yet lack articulation. Being articulate is an evolving progression that will come with time, and it encompasses both verbal and written communication. Moreover, being articulate is subjective. For instance, the use of the correct words is fundamentally important to being articulate. Your choice of words will significantly differ if you are presenting at a sustainability conference, in contrast to presenting to a team of junior salesmen. Articulation boils down to identifying the correct language for your audience and applying it with confidence. Cultural awareness We live in a globalised world, whether you like it or not. Being culturally aware not only opens doors to new opportunities, but it is also important in being a good communicator (refer to the first point above). If you live in a multi-cultural society, which applies to most developed countries, cross-cultural awareness is a vital skill to master in both business and employment. Critical thinking Success in business and employment is, in many instances, reliant on problem-solving. Unfortunately, one shortcoming of educational systems is not enabling pupils to develop this skill, and encouraging a one-dimensional perspective. Critical thinking skills enable you to see the bigger picture, identify problems and solutions and subsequently influence others, whether in business or employment. Confidence Ever heard of the phrase “nice guys finish last”? Well let me elaborate: niceness is not bad in itself. However, in many scenarios, niceness derives from a lack of confidence. Sadly, I had to learn this one the hard way, as I was a “nice” person before and it only allowed others to cross my (non-existent) boundaries and take advantage of my “niceness”. Again, I am not telling you to be a jerk. However, it is important to understand your strengths and weaknesses as an individual and build relationships based on mutual value. Remember: today’s world is extremely competitive and there are many not-so-nice people out there. By mastering confidence as a skill, you will set better boundaries and form better relationships. Financial literacy Financial literacy is a skill that is mostly relevant to business and entrepreneurship in a professional context. And it really does not need to be explained in detail as any venture’s success will ultimately depend on its financial health. However, this does not mean that it is not applicable to your personal life. Being financially literate will enable you to avoid stress, create more opportunities and achieve better health. Legal competency Okay, now I am not asking you to do a law degree or read every single legislation that exists. However, both business and employment operate within legal frameworks, and it’s a skill that will get you far. The key principle here is awareness of the existing legislations, your rights, obligations and applying critical thinking to them (see above) Sales I have run two businesses over the last seven years. One lesson that I have learned is that “cash is king”. The purpose, or one of the primary purposes, of business and employment is making money. Nevertheless, allow me to be clear that “sales” skills is not just limited to selling products/services. I am also referring to sales in an interpersonal context. I’ll break it down by asking and answering these two simple questions: How do you make money? By selling How do you land your dream job? By selling yourself and your competencies Writing Writing skills are, in most cases, crucial for succeeding in business and employment. Writing competencies are vital in becoming a better communicator, and communicating your thoughts, values and skills. Whether it’s writing your resume, cover letter, a blog article on your website or an email to a client, writing skills will help you a lot. About | My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats which I scaled to over 30 UK cities. I currently help other entrepreneurs and businesses of all size with the digital marketing strategy around SEO, copywriting and content.
Innovator Founder Visa: Business Consultant vs. Business Plan Writer
If you are considering the Innovator Founder visa, you have probably come across the terms “business plan writer” and “business consultant”. Well, at least on my website/channels you have. So let’s look at the difference between a business plan writer and a business consultant. Understanding the difference will also help you decide which one may be useful to you. Depending on your venture and personal skills, you may need the help of a business plan writer or business consultant for your Innovator Founder visa application. First of all, I will do the “sales” part to inform you that I am both a business plan writer and a business consultant. Nevertheless, this is not usually the case, distinguishing me from any other service pertaining to Innovator Founder visa and international founders. In fact, I am the UK’s first and #1 business consultant for international founders. Moreover, I was an immigrant entrepreneur myself and settled in the UK via several business visas. Okay, now let’s look at each in detail, followed by a comparison table at the end. Business Plan Writer In the abstract, the function of a plan writer is perhaps quite clear. Business plan writers possess the knowledge and skills to produce a well-written and well-researched business plan However, the key point is that a business plan writer may not necessarily be familiar with running a business or have prior experience of doing so. The key competencies of a business plan writer are: Business Consultant Business consultants, in contrast to business plan writers, are essentially there to advise on your business concept/protocols. Thus, they may not necessarily engage in producing business plans. However, they help you understand what needs to go on your business plan and eventually your venture. The core competencies of a business consultant are: Summary Business Consultant Business Plan Writer In-depth industry knowledge Understanding of business plan standards Experience in running and scaling a business Language/writing skills Need help? I operate as both a consultant and plan writer Whether you need help with writing your business consultant or are seeking a consultant to advise on your operations, I am here to help. Get in touch with me today to find out more. You may also watch a YouTube video that I have made on the same topic. About | My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats which I scaled to over 30 UK cities. I currently help other entrepreneurs and businesses of all size with the digital marketing strategy around SEO, copywriting and content.
3 free SEO hacks
With SEO being integral in website visibility and traffic acquisition, it’s always good to be on the lookout for the latest SEO hacks. It’s even more important to do so as a founder/company with a small marketing budget. One thing that I learned as a founder and SEO copywriter is that sometimes a small SEO hack can end up generating a lot of traffic and sales. Before outlining the SEO hacks, I want to emphasise a key factor that you should be aware of throughout your marketing campaigns. And that is to think like your customer and understand their thought process. SEO HACK #1 Use forums and social media channels for SEO content brainstorming One way to start generating ideas for the content you wish to write on your website is by looking at your customers’ questions. Some of the best platforms to do so are Reddit & Quora. This is also covered in another blog post that I wrote about free SEO keyword research tools. SEO HACK #2 Do a speed test on your website Did you know that user experience and therefore your website’s speed affect SEO? You may have good content; however, if your website fails to provide an adequate level of positive user experience then it’s bad news for your SEO. You can do a speed test on Google’s PageSpeed Insights. SEO HACK #3 Sign your business up on online directories Online directories such as Yelp can increase visibility, as well as boost your SEO through backlinks. However, be careful with this step as too many submissions and thus low-quality backlinks can actually harm your SEO. These are 3 little SEO hacks that can help you give your online visibility a boost and rectify existing issues through a speed test. If you require assistance with SEO and copywriting, find out more about my services or if you prefer to have a chat, get in touch today. About | My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats which I scaled to over 30 UK cities. I currently help other entrepreneurs and businesses of all size with the digital marketing strategy around SEO, copywriting and content.
Why you should work with a freelance SEO writer
If you have considered or are considering working with a freelance SEO writer, this article is for you. As a tech startup founder, and now a digital marketing consultant, I have dealt with SEO for over 7 years! As an SEO copywriter myself (see more details here), I thought it would be helpful to share why working with SEO writers can be valuable. When I started my first company, StudyFlats, I needed to learn about SEO. It all just seemed so complicated and tech-based. This combined with having to juggle around all other areas of the business made me reliant on external third parties. Initially, I worked with a marketing agency, which proved useless. The high costs associated with digital marketing agencies further prompted me to seek freelancers, mainly freelance SEO writers. Bear in mind that I had £400 in my bank account as a marketing budget in the first year (oh those really were the days). Anyway, I soon discovered that working with a freelance SEO writer can be hugely beneficial, so long as the following are clear: 2 years later, I hired a marketing team of four at StudyFlats and oversaw SEO content creation as a team leader/CEO. Hence, I also possess first-hand experience with SEO writers as employees. So let’s look at why you should work with a freelance SEO copywriter: Cost-efficient Perhaps the key differentiating factor in favour of freelancers against digital marketing agencies is the pricing. Working with a freelance SEO writer helps you generate far more content at a fraction of an agency’s cost. Tailored SEO service Working with an individual freelancer, in contrast to an agency, allows for a more tailored service. Many individual freelancers are (more) dependent on positive client feedback and retention. Less liability Working with digital marketing agencies and/or freelance SEO writers bears less legal liability than hiring employees. Unless your venture is at the stage in which it needs more permanent employees, then perhaps you may consider the recruitment option. However, EVEN if you do decide to hire employees, working with freelance SEO writers can still be cost-efficient. Plus, it’s beneficial as it creates a new frame set for your existing content. These are some of the reasons why working with a freelance SEO writer can benefit your business. If you are looking to hire a freelance SEO writer, then get in touch with me today! About My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats which I scaled to over 30 UK cities. I currently help other entrepreneurs and businesses of all size with the digital marketing strategy around SEO, copywriting and content.
Starting a business in the UK: 3 things to do
Thinking of starting a business in the UK? There are various things to consider and plan for when you decide to pursue your own venture. However, sometimes the most basic aspects can be confusing. This is especially true if it’s your first time starting a business in the UK. In this article, I will highlight 3 basic steps that you need to take if you wish to start up in the UK. In contrast to many other countries, starting a business in the UK is relatively straightforward. Although, it is advisable to seek professional advice if you are uncertain about any of the points covered in this article. Determine your business structure There are various ways in which you can start a business in the UK. The most common forms are either: Each of the abovestated have their own procedures, advantages and disadvantages. Choose a business name This is an obvious, yet somehow overlooked one. And believe me: it can be notoriously difficult to choose the right business name in today’s world. Additionally, your business name can often make or break your business. There are two key sources that you should check to see if your proposed business name is available. These are: Companies House Use the company register by Companies House to check whether there are any existing UK companies with your proposed business name. UK Intellectual Property Office (UKIPO) Once you have ensured that there are no companies with a name similar or identical to yours, then you must check for Trade Marks. Legally, trade marks have much more weight. The key factor to consider here is trade mark classes, and identifying those that apply to your business in the UK. This guide, prepared by the UK Government, provides a useful guide to UK trade marks. Choose a business bank account It is important to do your research and identify the best banking solution for your business. Starting a business in the UK does give you several options in terms of banks. This is especially true with the emergence of the new “challenger” banks such as Monzo. Choosing the best bank for your UK business is dependent on the particular circumstances concerning your business. Some relevant factors to consider are: If you need help with starting a business in the UK, get in touch with me today. My service is cost-efficient, tailored and friendly. About My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats.I did so by obtaining an endorsement from Newcastle University under the Tier 1 Graduate Entrepreneur Scheme (similar to the current Start-Up Visa). Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (which was replaced by the Innovator Visa). I grew my business to over 30 UK cities, and a team of four, and also obtained my Indefinite Leave to Remain (Settlement) in the UK. I now help other migrant entrepreneurs, such as myself, with their businesses, and mainly with obtaining endorsements from the endorsing bodies.
Approaching an Innovator Founder Visa Endorsing Body: 3 things to consider
*Disclaimer: None of the content in this article, or this website, constitutes any form of immigration advice whatsoever. The material in relation to immigration on this website is solely “signposting” and readers are encouraged to seek advice from a qualified advisor using the OISC’s website. Any opinions expressed on this website are those of the author and of a business nature, nor do they constitute any form of advice.* Starting a business in the UK requires an endorsement from an Innovator Founder Visa Endorsing Body. These are organisations that are approved by the Home Office to issue endorsements to selected international entrepreneurs. According to the UK Government’s website, there are currently 3 Innovator Founder visa Endorsing Bodies, which you can find HERE. Regardless of your immigration status/nationality, the process of approaching an Innovator Founder visa Endorsing Eody does have a business/commercial element. For instance, your business plan and how well you articulate your idea are integral to the endorsement outcome. In this article, I seek to highlight 3 points that may be beneficial in choosing an Endorsing Body. This is best for your business proposition (e.g. their past portfolio and expertise in your sector). Thus, these factors are the “business/commercial” ones rather than being associated with the visa application. Communication This is a significant factor in any form of relationship, whether personal or professional. Moreover, you will have to work with the Innovator Founder visa Endorsing Body that you choose for the duration of your visa. Hence, it’s important to ensure there is sufficient communication that you feel comfortable with as an entrepreneur. Pay attention to how you and the Endorsing Body communicate in the initial stage. Communication is always a reliable indicator. Communication is also evident in an organisation’s clarity about their procedures. Startup portfolio of the Endorsing Body Another helpful factor in choosing an Endorsing Body, or even another stakeholder such as an accelerator in the next stages, is looking at the past companies under their support. One that may be decisive is industry knowledge. For instance, you have a business proposition in the Blockchain sector and the Endorsing Body has previously supported founders in the same industry. Additional support offered by the Innovator Founder Visa endorsing body Each founder has their own unique circumstances. Therefore, it is a good idea to find out whether the Endorsing Body that you are targeting offers any form of additional support. However, as stated, this may not be applicable to every founder. About My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats.I did so by obtaining an endorsement from Newcastle University under the Tier 1 Graduate Entrepreneur Scheme (similar to the current Start-Up Visa). Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (which was replaced by the Innovator Visa). I grew my business to over 30 UK cities, and a team of four, and also obtained my Indefinite Leave to Remain (Settlement) in the UK. I now help other migrant entrepreneurs, such as myself, with their businesses, and mainly with obtaining endorsements from the endorsing bodies.