With net migration falling in the UK there is a potential gap for entrepreneurs to travel to the UK to set up business. The Tier 1 entrepreneur visa allows entrepreneurs with seed capital the possibility to travel to the UK in order to set up and run their own business from inside the UK. This access to such a rich and diverse market has been high on the wishlist of many who wish to travel to the UK in order to sample the unique mixture that makes it such a popular destination to live and work.
The issue of migration has come to the fore in the last two years since the UK decided to leave the European Union after its more than 40-year membership of it. This decision has created a gap for entrepreneurs to enter the UK in order to enter the UK to set up their business. The drop in migration appears to be fuelled by the referendum result. It is widely believed that so-called freedom of movement of EU citizens to the UK will end once Britain leaves the zone in 2019, it appears that many EU nationals have decided to perhaps move on to other countries or indeed return to their country of origin; but with negotiations still at a very early stage these movements appear to be premature at the least.
This all makes good news for the entrepreneur. Britain is a globally connected economy that is incredibly diverse and resilient. The options that the UK offers are mind-boggling for those coming from other countries. With relative high rates of pay and one of the best countries for quality of life around the World the UK really is a go-to destination for entrepreneurs. Indeed the UK government is very interested in those with seed funding and very open to the possibilities that can be achieved. For a genuine entrepreneur, the entry requirements required are likely to be favourable for those with a strong business plan.
The short-term result of a fall in net migration is a shortfall in talent, this has been borne out so far, NHS trusts are struggling frantically to fill vacancies and even having to employ people from abroad to cope. In the tech sector, there are also shortages. Many hope that these are temporary. The British government now has a big job on its hands to try and coerce the best and the brightest to the UK by opening up the visa routes the government is at least trying to bridge the gap.
If you’re looking to make the move to the UK and take advantage of the wonderful opportunities that are presenting themselves then get in touch today. We are experts at creating Tier 1 business plans for entrepreneurs and would be delighted to get you started on your journey.