urgent help needed for entrepreneur visa ext interview

Interview Questions
Starts with intro & then
1- Source of funds
2-Previous experience & my role in business
3- Investment break down
4-Employees role & how I recruit them
5-How much I spend for advertisement
6- Any contract
7-If business fails then what I will do next
8-Company Address
9- Do i have website
10- What i sell, items detail
11-My profit percentage
12-Do I know my employees before
13- Full time employee's gross wages
14- Break down of 2015 annual accounts expenses
15- How my turnover is double in 2015 compare to 2014
16- How I compete with my competitors
17- Monthly expenses in total
18- Some questions about my previous visa & studies
19- wholesale buyers name & how much they contribute in my annual turnover
20- How many buyers came on board in last 3 months

Thanks
Question 14 is very difficult
How u breakdown each expenses of 2015 annual
Accounts

How u memories those figures

Alaija wrote:No i was not allowed to submit any documents and i did not take any as it was suggested in the second letter and my interview was in sheffield

Alaija,

Any update on your case? It is 2 months since you had interview?

Alaija wrote:
Hi every one i got first letter for interview in email on friday17th and recieved another email on 20th regarding location and time which is 30th june .

Alaija's last visit to the immigrationboard portal was on Aug 13th. Hopefully he should have got his visa extended.

Question 14 is very difficult
How u breakdown each expenses of 2015 annual
Accounts
How u memories those figures

If you know your business then you know how much you paid wages,rent,electricity bill, phone bill etc etc & all these informations are available on your Accounts, as everyone is saying after interview just go through your all accounts you will be fine..nothing will be asked out of course otherwise you can boycott the exams

After following this forum since my application to HO, Its look like HO assess your submitted documents first and if they found any fault or missing document than they refuse your application in first instance but if all required info and docs are there than HO will refer to the interview process (if they may find any fault in your application).
Its good sign as we were call for interview but only thing is frustration after the interview there is no time limit for decision now only just wait.

After all its my assumption

Well perception regularuser
Yes I agree, HO conducting interviews for tier 1 entrepreneur extension in very proper way. Well, when they inviting applicant for interview so it means they have not found any error or issue in their application but at interview 80% questions related to investment, employees, annual accounts figure each years and also asking who prepared their accounts, this is their way of dealing to examine applicant ability, confidence, know how and authencity. Tie is also mention at the interview lette/email sent by HO.
Which is good but as you said delay in process and too much wait for the out come created tense and disappointment within applicant.



Regards
Ik

Dear All members,
Thank you very much for all information shared. I have received a interview letter and my interview is 16th September. I also received declaration form which need to be signed and send back along with interview acceptance letter. Please anyone received both forms at the same time.
Thanks

Aslam2016 wrote:Dear All members,
Thank you very much for all information shared. I have received a interview letter and my interview is 16th September. I also received declaration form which need to be signed and send back along with interview acceptance letter. Please anyone received both forms at the same time.
Thanks

Please share your timeline
What was your business
50k or 200K
Was your business in a loss ?

cappachino wrote:

Aslam2016 wrote:Dear All members,
Thank you very much for all information shared. I have received a interview letter and my interview is 16th September. I also received declaration form which need to be signed and send back along with interview acceptance letter. Please anyone received both forms at the same time.
Thanks

Please share your timeline
What was your business
50k or 200K
Was your business in a loss ?

it is 50k ,and it is loss in 3rd year due to purchase stock. thanks

regarding the interview questions, is there any cross -examination, when you give an answer does that lead to any questions?

for example, for what is the source of funds ? if you say from family ? does that lead to questions about who are the family members etc ? As far as I am aware, source of funds does not need documented evidence ?

also any1 who had faced interview without fully spending 200/50 k ? any questions on that ?

thanks

Yes there will be cross questions/clarifications from the answers you give for the actual question. It will not be like the interviewer will ask the question and whatever your say will be recorded. It will be more of a discussion/investigation/probing to the depth and then the interview collates information for recording.

maranatok, thanks for the reply.

so u been to the interview ? also did u fully spend the 200k ? regarding source of funds, do u need documented evidence ?

Yes I have been to the interview. Its not necessary that you should have fully spent. I think you should have already submitted the Business Bank Statement highlighting the investments. You don't need to submit additional documents during the interview process, but if asked What is the source of funds, How did you utilize your funds? etc. You should be able to explain.

ok cheers,

also should the source of funds be same as claimed during the Initial applications ? is any reference drawn to the initial applications during extension interviews ? or does HO treat extension application in their own merit ?

Please do not make the source of funds matter complicated,
More concentration on expenditure breakdown and employee gross pay each years and how contracts comes on board

It is very important to keep your business matter effectively

but think "source of funds" is the first question, and I want to answer all questions properly, do not want to cast any doubts.

I know all about my business, bcoz I genuinely run sin putting almost 20 hrs a day. I am concerned about source of funds, as I got the money from friends/family in the UK and in the initial application, I mentioned I was going to get it from overseas.

so wonder how I should answer it ?

N8net,

When is your interview?

n8net, That should not be a concern. There can be always a change in the plan. It is not necessary that initial sponsor only should invest.

Hi @helping person,

mine is on the 8th Sept , when is urs ?,

@marantok
thanks . also I am not sure how to answer, what u will do if ur business fail , is the answer they r looking for is "I will go home an not recourse to public money"

n8net, I don't know what they expect. But I answered the same

What will do if business fails
Applicant should need to prepare for this answer because one can not leave businesses or uk if invest 50 or 200k if they have plan B
Plan B is what other options applicant have any new business idea or move to another business or take over other business merge or shares
So it is not good option to leave uk it is not authentic answer

n8net wrote:Hi @helping person,

mine is on the 8th Sept , when is urs ?,

@marantok
thanks . also I am not sure how to answer, what u will do if ur business fail , is the answer they r looking for is "I will go home an not recourse to public money"

5th Sep.

Helpingperson
Do you have answer for That if business fails and how you compete your competitor or any market strategy/research
Please give answer in brief explanation

Briefly, I would say:

Business Contingency:

Knows your future forecasts for sales/profit in coming years and where you see your business. Having business growth ideas even possible partnerships with another business. Having clear idea of another business as part of Plan B if your current business completely fails. Know and have source of funds to deal with crisis in current business and/or to implement Plan B which is to start new business altogether.

Emphasis should be on success of current business to show faith on your current business plan and business itself.

Competitive edge/advantage:

Knowing your competitors and their business strategy as much you can, offering value for money, good quality products, personalized service to your customers to retain them, Feedback from customers, After care....

Market Strategy/Research:
This needs to be specific to each individual business. There are lots of idea/examples on this if you google.