CEM REPORT | In a move to further grow its business environment the United Kingdom has opened applications for Nigerian and other foreign nationals to apply for the 2022 scale-up visa.
The visa which targets bringing on board skilled individuals to rapidly growing sectors, like small enterprises, tech, and financial services in the country will enable UK-based businesses to bring in sought-after expertise and skills, that can boost their innovation and productivity and in turn keep contributing to the UK’s economy.
According to a statement issued by the British government, Kevin Foster, Minister for Safe and Legal Migration explained that the development would see growing businesses enhance productivity across the economy as it is believed that scaling up is an important phase for high-growth businesses to continue growing and drive their international competitiveness.
“Rapidly growing businesses, like small enterprises, tech, and financial services, need the right level of support to go to the next level. Through our Scale-up visa, we’re enabling businesses to focus on their growth and innovation by giving them more freedom to bring in the diverse skills and experience they need, making them more attractive on an international stage.
“By supporting our high-growth tech, financial services, and small businesses, we are ensuring the UK remains a global hub for emerging technologies and innovation while enhancing productivity across the economy – creating jobs, growth, and prosperity across Britain.”
Also, Irene Graham OBE, CEO of the ScaleUp Institute said, the scale-up initiative adds over £1 trillion a year and more than 3 million jobs to the UK economy.
“The ScaleUp Institute welcomes the launch of the Scale-up visa. This is something we have recommended since our inception and should provide a much-needed fast-track service to enable local growth companies to access the talent they need more quickly.
“Scaleups add over £1 trillion a year and more than 3 million jobs to the UK economy, and are present in every community, hiring people from at home and abroad, as they drive growth into their local areas and beyond.
“The visa should help with the skills demands. We look forward to continuing to work with the government as this service evolves to ensure it fully addresses scaling business needs and works effectively.”
Unlike other sponsored visas, the Scale-up visa allows businesses to employ high-skilled individuals who will receive 2 years’ leave to remain in the UK without requiring further sponsorship or permission beyond the first 6 months.
Eligible companies to sponsor talent through the Scale-up visa includes, small businesses and those in the tech and financial services sectors, that have achieved growth of 20% or more in either employment or turnover year-on-year for at least 3 years and employed a minimum of 10 people at the start of the 3 years will be
For more details on cost, eligibility and others on the scale-up visa visit here