One of the most important aspects of your application is your Business Plan. This can make or break your application, so it is important that your Business Plan is detailed, professional and that you are very familiar with it.
A Business Plan for an Innovator Founder visa application must always emphasise the innovative aspects of your business idea as well as the viability and scalability of your proposal.
A successful Business Plan should consist of a narrative section and financial projections for a minimum of three years of operation. It will typically include:
1. Executive summary
2. Description of your products and/or services
3. How your business meets the Innovation, Viability and Scalability criteria for endorsement
4. Please highlight your research and development activity in relation to the core innovation proposition
5. Market analysis
6. Competitor analysis: we recommend including at least 4-5 competitors and require a comprehensive analysis comparing your competitors’ features and benefits against your own offer
7. Staff profile and recruitment strategy
8. Marketing and sales strategy
9. SWOT analysis
10. Investment strategy and funding requirement
11. Detailed revenue and Cost of sales forecast, reflecting customer acquisition numbers
12. Cash flow forecast
13. Annual Profit & Loss forecast
14. Balance sheet forecast
15. Forecasted stock levels (if applicable)
16. Forecasted advertising/marketing expenditure
17. Forecasted fixed asset schedule
18. Forecasted staff costs (salaries and related expenses such as national insurance and pensions)
19. Any relevant appendices, including CVs
