Entreprenuer Team for PSW holders

[saeedusman]

Just wanted to know if the new policy clearly states that two PSW holders can make entrepreneur team and share £50,000.

I mean if we two PSW holders get £25,000 each (altogether £50,000), we will be eligible to make team (provided all other conditions and requirements are met as well).

Actually I was thinking that we can make, but 2-3 persons told me that team is only for £200,000 category, not for £50,000.

I will appreciate all comments. Thanks

[Lucapooka]

If both team members are PSW, that is fine. It's not okay if only one member is PSW.

58.If you have formed an Entrepreneurial Team with another applicant, the documents must confirm that the funds are available to both team members. Your Entrepreneurial team member must also qualify to use the same amount of investment if the total amount available to your entrepreneurial team is£50,000 or more. If the other team member does not also qualify for this level of investment, the total amount available to the team must be at £200,000 or more.

But before you start rubbing your hands, you have to remember that the business is the only entity in which you both can be employed. Neither of you can take a second job in any capacity!

[saeedusman]

If both team members are PSW, that is fine. It's not okay if only one member is PSW.

Thanks v much for your time and reply Lucapooka.

Its crystal clear now.

I'm already running proper and well established business and will carry on with same kind of profession but at graduate level as required.

Thanks again.