For your business proposal to be endorsed, you will need to receive a letter of endorsement from a UK Government-approved endorsing body. Endorsing bodies are selected UK higher education institutions or business organisations with a history of supporting UK entrepreneurs. An approved endorsing body will need to be satisfied that your business idea meets all of the following criteria:
● Innovation: You have a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage;
● Viability: You have the necessary skills, knowledge, experience and market awareness to run the business successfully;
● Scalability: Your business plan shows structured planning and potential for job creation and growth in national and international markets.
The endorsing body will need to be satisfied that you will spend your entire working time in the UK on developing business ventures.