BUSINESS PLAN NECESSARY EVEN IF ALREADY INVESTED 50K ??

Thanks for the all valuable inputs guys ...i keep getting from this forum.

Me and my partner are all ready to apply for TIER 1 entrepreneur, we have already invested all the funds of 50k in a UK business ..

DO WE STILL NEED TO SHOW A BUSINESS PLAN ?? IF FUNDS ARE ALREADY INVESTED

THE TIER 1 entrepreneur form asks for these documents ...but not mandatory...

• Your curriculum vitae listing any relevant qualifications you may have;
• Your business plan;
• Your market research (which may include information on competition in the area your business
will operate in);
• Evidence of business advisory services you have used.


I FEEL NONE SHOULD BE APPLICABLE >>>EXCEPT ATTACHING A CV

CAN PEOPLE WHO DID APPLICATION.....GIVE ME SOME GUIDANCE ??

THANKS ALL

same with us. Please needed advise.

None of these documents are mandatory. I know you are looking for a straight answer, but there is none. It is pretty much your call what extra documents you want to attach to your application, if you feel that it will make a stronger case then go ahead and attach it .

When I applied for mine, I didn't attach any of these documents, I only attached the "required" ones.

I hope this helps

could you please explain how have you invested funds? i mean through shares or director loan? thanks

abhikant wrote:Thanks for the all valuable inputs guys ...i keep getting from this forum.

Me and my partner are all ready to apply for TIER 1 entrepreneur, we have already invested all the funds of 50k in a UK business ..

DO WE STILL NEED TO SHOW A BUSINESS PLAN ?? IF FUNDS ARE ALREADY INVESTED

THE TIER 1 entrepreneur form asks for these documents ...but not mandatory...

• Your curriculum vitae listing any relevant qualifications you may have;
• Your business plan;
• Your market research (which may include information on competition in the area your business
will operate in);
• Evidence of business advisory services you have used.


I FEEL NONE SHOULD BE APPLICABLE >>>EXCEPT ATTACHING A CV

CAN PEOPLE WHO DID APPLICATION.....GIVE ME SOME GUIDANCE ??

THANKS ALL

abhikant wrote:Thanks for the all valuable inputs guys ...i keep getting from this forum.

Me and my partner are all ready to apply for TIER 1 entrepreneur, we have already invested all the funds of 50k in a UK business ..

DO WE STILL NEED TO SHOW A BUSINESS PLAN ?? IF FUNDS ARE ALREADY INVESTED

THE TIER 1 entrepreneur form asks for these documents ...but not mandatory...

• Your curriculum vitae listing any relevant qualifications you may have;
• Your business plan;
• Your market research (which may include information on competition in the area your business
will operate in);
• Evidence of business advisory services you have used.


I FEEL NONE SHOULD BE APPLICABLE >>>EXCEPT ATTACHING A CV

CAN PEOPLE WHO DID APPLICATION.....GIVE ME SOME GUIDANCE ??

THANKS ALL

Your business plan is simply what you and your partner intend to do in your business, it should include, your business objectives, projections, market research e.t.c.

And put it dis way, if you guys apply and get invited for interview by HO, are u not going to explain your business to HO? If so, then getting your business plan and market research ready now will assist your application by showing that you already put down all your plan in writing which is the standard practise for any successful businesses.

So business plan, as it is not compulsory but very helpful in proving that you are genuinely prepared for your business.

We have decided to go with Share investment ...its easier to handle for tax purposes and other details for future in IMO.


Thanks for the advice to include a business plan. Good to have a discussion

We have decided to go with Share investment ...its easier to handle for tax purposes and other details for future in IMO.


Thanks for the advice to include a business plan. Good to have a discussion