It is Impossible to Prepare for your UK Venture – Myth 3



It is Impossible to Prepare for your UK Venture – Myth 3

Getting all relevant documents together for any application is an onerous task; leave alone an extensive one such as the one for the UK Home Office. The last thing on the mind before an entrepreneur applies to the Home Office is to make preparations for the venture in the UK. The entrepreneur is busy preparing the application along with his immigration lawyers, taking help from his bankers and accountants. In all this melee of paperwork, there is a nagging worry at the back of his mind that he needs to put serious thought to how he will conduct his future business in the UK.

There are two major factors at play here: one is the knowledge and awareness of rules and laws of the land and second is the lack of a trusted network of professionals. Most of us have, over the years, built a trusted network of people around us in our city/ country. For say, if in need of a lawyer or accountant or tax consultant, we may know the exact person to go to or may know someone who can point us in the right direction. But when we are out of our comfort zone and in a foreign land, it can be bit tricky to establish trust. Further, we may not have the luxury of time to do so and not have the years of interaction to create our circle of known people.

The Consilium Mentoring Programme (CMP) does just that – create knowledge and awareness of the business ecosystem in the UK and also introduces a good trusted network of professionals. The CMP Incubation programme endeavours to create a trusted network of people to go to. Over a period of twelve weeks, the entrepreneur goes through a series of workshops. The workshops are fully online and enable participants to attend from their own country and at their own convenient time. The workshops are designed to provide know how into the business environment in the UK. Some of the general areas covered are human resources, pensions, relevant legal requirements for businesses, accounting, taxation, tax breaks and some bespoke areas depending on the entrepreneurs’ business are around IT, blockchain, AI and robotics etc. Further, if the innovation is established, possible help can be sought from Universities and other bodies that can support the entrepreneur to develop the idea and even create the MVP. The sessions are one on one and the member can make each session as bespoke as he wishes. The mentors are well experienced in their area of work and offer customized solutions and advice to the participant.

The application preparation time is roughly around three months and at the same time the entrepreneur can go though their CMP incubation workshops to prepare themselves and are better planned for the setting up task ahead once they are in the UK.

The CMP incubation has contributed to the success of not only international entrepreneurs but also startups based in the UK looking to brush up their business knowledge and awareness before they start the business.