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Entrepreneurship Opportunities in the UK Webinar

Gain insights on entrepreneurship post-study in the UK, covering Tier 1 Graduate Entrepreneur & UKVI Start-Up schemes. Learn about eligibility, application processes, and recent immigration developments.

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Entrepreneurship Opportunities in the UK Webinar

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  1. This webinar will start at 5pm In the meantime please: • Configure your audio - Click on Tools, Audio, Audio setup wizard and follow the directions in the setup wizard • Familiarise yourself with the screen • Use the Chat window – to post messages, flag up technical problems and ask questions

  2. Don’t forget to join other sessions in this webinar programme

  3. Working as an entrepreneur in the UK after study How this webinar works • Using the webinar dashboard • Using webchat to introduce yourself, ask questions, and make comments

  4. Working as an entrepreneur in the UK after study Gemma Zebedee Senior International Student Adviser Aston University

  5. Content of today’s session This session is aimed at current university students in the UK who hold Tier 4 leave and are interested in starting a business in the UK after the have completed their studies. We will be covering: • Tier 1 Graduate Entrepreneur immigration route (soon to be discontinued) • New UKVI business Start-Up and Innovator schemes (starting April 2019)

  6. Disclaimer • I cannot give individual immigration advice during this webinar. If you need individual advice please contact the International Student Adviser(s) at your institution. If you are an Aston University student please contact The Hub on 0121 204 4007 or astoninternational@aston.ac.uk • We will be covering some very recent and not yet fully explained developments in UK Immigration Law. • All information and advice included in this session is correct as of today but that the immigration rules are subject to change. This is a new and developing area of the immigration rules and all participants should seek up to date immigration advice from an authorised immigration professional before making any subsequent immigration application.

  7. Tier 4 work conditions restrictions- a warning! Tier 4 work conditions do not permit students to: • Fill a permanent full-time vacancy • Be self-employed or engage in business activity • Be employed as a professional sportsperson/coach • Be employed as an entertainer • Be employed as a Doctor/Dentist in training • You should be very careful about doing any kind of work that is freelance or on a self-employed basis. • If you want to set up in business in the UK after your studies, you will need to apply for appropriate immigration permission to be in the UK that will allow you to do this.

  8. Tier 1 Graduate Entrepreneur (closing April 2019) • “The Tier 1 (Graduate Entrepreneur) route is for: • UK graduates endorsed by Higher Education Institutions (HEI) or Department for International Trade (DIT) as having developed genuine and credible business ideas and entrepreneurial skills to establish one or more businesses in the UK • The endorsing body has to assess your business idea. Your business idea must be genuine, credible and viable. Sponsors cannot support a business idea involving property development or property management or a “routine business which will merely compete with other local traders”. • Your sponsor will issue you with an endorsement letter to confirm they have assessed your business idea and will sponsor you. • This scheme will close to new applicants on 4th April 2019. If you do not already have an offer of endorsement from an endorsing body it seems unlikely that his will be an option for you. • There is transitional protection in place for those who already hold leave as a Tier 1 Graduate Entrepreneur which allows them to extend their study if they have only receive leave for 12 months so far and to switch into Tier 1 Entrepreneur (which will also close to new applicants in April 2019).

  9. UKVI Start-up and Innovator schemes Start-up scheme overview • For early- stage, high potential entrepreneurs who have not previously set up a business in the UK. • Applicants need to be endorsed by a Start-up endorsing body- Higher Education Institutions that previously participated in the Tier 1 Graduate Entrepreneur scheme have been invited to be Start-up endorsing bodies. • The endorsing body needs to assess the applicant’s business idea and confirm that it meets the requirements of the Start-up scheme (we will come back to this later in the session). • Endorsing bodies may also have their own additional requirements for endorsing applicants. Most endorsing bodies will have 25 endorsement to offer each year.

  10. Start-up scheme overview continued • Applicants do not need to be graduates but the endorsing body needs to confirm that the applicant is able to spend most of their time working on their business. It is therefore unlikely a University would endorse a student before they finished their studies. • Applicants do not need to show they have funds to invest in the business. • Applicants must not have previously been granted 2 year’s leave in the Start-up and Tier 1 Graduate Entrepreneur categories. We do not know if the scheme will be open to applicants who were previously granted leave under Tier 1 Post Study Work, Fresh Talent, the International Graduate Scheme, Science and Engineering Graduates Scheme. • Start-up participants can switch into the Innovator category at the end of their 2 year’s leave. It is not yet clear what other immigration categories participants may be able to switch into from the Start-up scheme.

  11. Start-up scheme- business idea In order to meet the requirements for the Start-up scheme a business idea must be: • Innovative; a genuine, original business plan that meets a new or existing market needs and/or creates a competitive advantage. • Viable; the applicant must have or be actively developing the necessary skills, knowledge, experience and market awareness to successfully run the business. • Scalable; there must be structured planning and potential for job creation and growth into national markets. You can work on more than one business and you can change your business after you have been granted leave under the Start-up scheme but your business(es) must always meet these criteria. Applicants do not need to be the sole founder of the business and applications can be accepted from entrepreneurial teams.

  12. Start-up scheme- applying • We believe applicants will be able to apply from inside or outside the UK. • It will cost £363 from outside the UK and £493 from inside the UK. We believe it will cost £800 for the Immigration Health Surcharge (£400 per year). • Applicants will need to show that they have funds available or maintenance as part f the application: • £945 for 90 days if applying in the UK • It is unclear whether there will be higher level of funds for overseas applications • It may be possible for endorsing bodies to certify maintenance in certain situations (awaiting clarification) • Start-up scheme participants will be able to bring their family members to the UK with them.

  13. Start-up scheme- conditions of leave (so far) • Successful applicants will be granted a one-off 24 months period of leave under the Start-up category. • Start-up participants will be able to undertake work outside of their business but must still spend the majority of their time working on their business. • Study is allowed but Start-up participants must spend the majority of their time working on their business. • Start-up endorsing bodies are required to monitor the engagement and progress of participants. They will set up at least two checkpoints; one after the first 6 months and the other after 12 months.

  14. Innovator scheme overview • This scheme is aimed at more experienced business people seeking to establish a business in the UK. • All applicants will need to be endorsed by an Innovator endorsing body (list not yet released). • Leave will be granted for 3 years at a time. • There will be 3 Innovator scheme categories: • New business (usually need to show £50,000 funds for investment) • Same business (applicant is continuing with a business they established under the Start-up scheme or a previous grant of Innovator leave) • Settlement (after at least 3 years in the Innovator category)

  15. Innovator scheme overview continued • Start-up participants switching into the Innovator (Same business) category will not need to show funds for investment as part of their application. • All Innovator scheme business ideas are subject to more detailed and stringent criteria for eligibility than the Start-up scheme (especially the Innovator (Settlement) category. • However, there is no limit to how many times an Innovator (Same business) endorsement can be given (as long as it continues to be for the same business!) • It is not clear what other immigration categories participants may be able to switch into from the Innovator scheme.

  16. Any questions?

  17. Tell us what you thinkPlease type in a few words to answer these questions • Q1 What was most useful? • Q2 What was least useful? • Q3 As a result of the webinar what will you do differently? • Q4 What changes would be needed if we ran this webinar again?

  18. Don’t forget about: • Rest of webinar programme • Using your Careers Service support • …and thank you for taking part

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