Hello, guys
i had interview at Sheffield, this forum helped me a lot, i am providing some questions and answers
business - consultancy
limited company - £ 50k
2423 soc.
1. What is your business plan? (Study plan in depth, should have clear understanding of business).
Ans – my business plan is to give products and service to small and medium size business whether they are new or existence business as well as encourage unemployed people to open a business at home or office
2. Explain your experience in business?
Ans - I have 2 years of experience in consultancy business as well as more than 5 years experience in retail business sector.
3. Why you want to do only this business?
As I have done my studies in business field and I have a good experience and knowledge of this business– my modules was marketing research, strategy and research methodology , human capital etc. that is why I chosen this business
4. Why you want to do business in UK?
There are some many factors to do business in Uk
ans - the easiest place to set up and run a business according to world bank its takes 13 days to set up a business in uk compare to another eu country there it takes 32 days
= Low rate take environment for foreign investors
= stabilization in economy and political
= Booming economy
= outstanding transport link
5. Justify different educational background compare to this business?
Ans – I have done Bachelor of commerce Account hons , completed my PG diploma in retail management as well as MBA in international business, so when you compare my business with my studies it is a perfect sector for me to do a business
6. Where money came from?
7. How you will invest? (Investment structure).
8. Is my (IT Business) is already running or I am waiting for visa?
Ans – it is running business although I am waiting for my visa to run my business in a full flash and to open my business account
9. Will you do recruitment?
Ans – yes I will recruit in 1 year 1 member of employee it for market research and marketing and after 2 year 1 member to do administration work and meetings arrangements
10. How you going to work out wages?
Ans – yes indeed I have work out I am going to pay initial £ 7.50 basic + commission on if employee getting work for company.
11. What kind of business premises would you acquire?
Ans- I will be acquire business premises after one year I have seen couple of offices
12. What grade is the property?
Ans Grade B
13. What kind of business insurance you need? How much is the estimated cover amount?
Ans – I need which covers public liabilities as well as employee liabilities estimated amount for £ 1 million pound
14. Monthly utilities, bills, power and gas?
15. What is your business rate? How much you will pay annually?
Ans- Business rate are taxes to help pay for local services, they are charged on most non- domestic properties, so my business property worth of £ 15,000 * 0.466p = £6,990.
16. What is the VAT you will charge?
Ans – 20% on services
17. What is the business income tax?
Ans – business income tax is charged on profit on your business 2014 business income tax rate is 20% on profits. As well as NI tax class 4.
18. What is your marketing strategy? What means of marketing you will use?
Ans – marketing strategy is a long time plan to achieve certain objective, marketing strategy gives strength to achieve that objective.
19. Your future plans for business?
Ans- my business future plans is to give best services in my area become a market leader in my area and spread my company in south east London
20. What suppliers you will use for equipment’s & components required?
Ans - ikea and stapler
21. Have you provided any services yet?
Ans – yes I did provided services such as CRM and marketing strategy
22. Do you have any potential customers?-
Ans – todays market is full of potential customers, just you should know how to approach them in a proper manner, some of my mates also interested in to open a new business as well as helped in their existence business
23. What is share capital?
Ans – share capital is issued by company to raise the fund for their company.
24. What is venture capital firm?
Ans – venture capital is a capital invested in a project in which there is a substantial element of risk, typically a new or expanding business
25. Explain your loan agreement?
1. when did you arrive in uk?
Ans- I arrived on 10 th oct 2008
2. could you please tell complete immigraiton history with dates?
Ans- I been to so many places so I don’t remember that much with the dates
3.what you have studies please explain in details with dates? and name of institution attended?
Ans- B.com account honrs – july 2004 –july 2007 and then PG diploma October 2008 – march 2010. And then MBA june 2010- oct 2011
4.after completing you degree and waiting for decision on psw visa ? what have you been doing?
Ans- I was working on my skill such as – communication skill, mathematical skill as well as preparing for interview
5.after Psw granted what did you do since then?
Ans- preparing for interview, doing market research which business is best in uk, what type of market in uk, and what area Uk business have more opportunities as well as giving some interviews
6. before you applied for tier 1 what have you done ?
Ans – first of all I have done market research in my area, surveys preparing business plan, funds, making strategy how I am going to penetrate in the market, as well as consulted with my friends about my business and collecting their opinions into my information data.
7. what make you do this business?
Ans – first of all legal requirements are not much as compare to other business area such as wholesale or retail, secondly my funds is enough to open this business, as well as competition in this area is bit low, and it doesn’t need lots of human power. It is a mental business not a physical business. Last but not least my studies area is same
= less legal requirement
= doesn’t need lots of human power
= my studies background is same
= my experience
8. what experience you have in the same field?
Ans – I have 2 years of experience in this field not here but home country india, my frd have a consultancy firm, so I was worked with him as a part timer.
9. does you previous experience and education background support the business you want to do?
Ans – yes it does support indeed my B.com degree, PG diploma and MBA
10. do you have team memebr or you applied alone?
11. what is ur team member qualification?
12. how you know him ?
13. is he related to you?
14. where did he done his degree? was it from uk or abroad?
15. does your team member have any experience in relevant field?
16. what market research have you done?
Ans – I have used both type of market research- primary and secondary
Primary method to collect information about my competitors.
I have short survey, via online as well as hand outs and face to face interview.
Secondary method to anaylsise data
17. Who are your competitors?
Ans- K. shah business – for research plan , joshi solution ltd – welling , Greenwich consulting , r & r team limited
18. do you have business insurance?
Ans – not yet but I am searching for best deals for insurance in confused.com as well as in direct line website.
19. liability insurance?
20.are you working from home or office?
Ans – home to keep my overheads low
21.do you have any employee?
Ans – not yet
22.will you be hiring any people?
Ans – yes I will be hiring people from 2 year of my business for marketing as well as for admin job
23.who u will be hiring?
Ans – the person should have good knowledge about marketing as well as good experience in their field
24.what job they will do?
Ans – marketing and administration
25. how you advertising your business?
Ans – via online website, flyers email and mail. Paper advert
26.how many live advert you have at present?
Ans - 4 are live advert – vistastreet, uk classified, google, facebook
27. how many clients you have so far?
Ans – so far I have 1 clients
28. how many contract you have completed so far?
Ans – 1 contract has been completed
29. how many contract still live?
Ans – none
30.do you have business bank account?
Ans – yes I do but waiting for visa to come for full verification
31. have you client paid you?
Ans – yes he did paid me
32. do you have business bank account statement?
33. can you show the transaction that your client paid?
34.how your client paid?
Ans – by cash and I put into my personal bank account
35.do you still have access to funds?
Ans – yes I do have
36.have you maintained the funds?
Ans – yes I do maintain my funds
37. do you have updated bank statement where you maintained funds?
Ans – yes I do have
38. where did you get that funds from?
Ans – yes all my saving and funds from here and back home.
39. have you taken any money from someone?
Ans – money come from my family but haven’t taken any
40. where you will be setting up your office?
Ans - in Woolwich dockyard I have seen that place and it is in main market.
41. why you have not invested the funds yet?
Ans – I have invested my funds on marketing, paying bills and part rent of my office from my personal account,
42. at any stage since you applied is your company website gone offline?
Ans - no.
43. how do you communication with your clients?
Ans - first I contacted them via phone, and fix a meeting at their place to speak to them further in detail and afterwards via email.
44. do you have any meetings ? is yes where you meet them as you are working from home?
Ans – yes I do have meeting with my potential clients some time at their office, restaurant, coffee shop or at bar. Its depend on the clients where they want to meet me.
45. what is main way of communication with your clients?
Ans – phone and email.
46. how you have setup office at home?
Ans – I have made my living room for sitting area for clients where some newspaper table chair water bottle and one room for my personal office where I have laptop, printer ,desks, chair and a file cabinet.
47. do you pay any business rate?
Ans – business rate process is going on valuation officer going to see my property for valuation and assessment will be done after that they will charge me business rate. Which is I believe .466p
48. do you have any business insurance?
49. do you have registration with any affiliate body?
Ans – yes I have registered with company house
50.who is doing most of the work yourself or you team member?
51. do you still have job?
Ans – yes I still do have a job but doing weekend only in weekdays I handle my business
52. do you had any previous qualification from your home country apart from what you have told me since you arrive in uk?
Ans – yes I have completed my high secondary from commerce subject as well as bachelor of commerce in account honrs
53.contigency plan?
54. in how many account you have funds?
Ans – one account
55. do you have funds in some other accounts too?
56. how you are managing you living cost and supporting family?
Ans – as u know I am single I don’t have a family here, so I don’t needs to support anyone another than myself. My living cost I am managing via my salary as well as selling my old item in ebay or amazon.
57. do you have funds in any other account in your home country?
Ans – yes I do have funds back home but I am not sure how much I got it I think I have £5000
58. if you need any financial help, where will u get the funds from?
Ans –
59. what if your business partner, team member decided not to carry on this business than will you still have access to £50k?
60.where is funds kept?
Ans – in my personal bank account
61. what is your share in funds ?
Ans - 100 %
62. how you will manage IT and Marketing services together ? as your team member got MBA degree and you got degree in IT?
63. does your business need registration with any authorised body?
Ans - with hm revenue and company house
64. will you be registring in future?
65. have you done any search for office space?
66. when you are looking to move into office space?
67. what sort of office you will be looking for?
68. why you want to rent a serviced office?
69. do you know the rates for the business premises you want to rent?
Ans – £ 500 per month
70. what is your post in company?
Ans business consultant but I am director of my company
71. what capacity you will be working apart from being director?
Ans – I am working as a business consultant, business consultant is giving service to new or existence business to grow their business, or helping them to understand their customer products and service as well as market
72. what is your team member role will be in company?
73. what capacity he will be working in company apart from being director?
74. how many companies in your areas providing same services?
Ans - 5 companies similar services but not same services
75. how many responses you had from your marketing so far?
Ans – so far I have 5- 6 responses I am getting each months they asking for quotation.
76. how many potential clients you have ? or how many clients you are in talks with?
interviewer was asked me Case worker questions like
is this advert made by you
- you have mention in your website about financial services, how you gonna provide to your client
- you mention in contract.... company name? tell me who are their director and their job description
- you have a fixed cost for every service your providing to your customer ? why is that and proof that
so far i have remember these question i will up date more,
whoever going to interview please make sure you check this forum first as well as check refusal reasons for that as well and don't repeat same mistake that another person did previously
cheer guys safe
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