₦airaland Forum

Lexusgs430:
UK wants to change the law, so once its pronounced, everyone is captured under new legislation (I don't think that Bill would pass)..... 🤣😂

The bill would pass
I can bet anything

But the thing is
Starmer won't please those guys

They will ask for more

RodgersAkpafu:
But your third paragraph will imply that it is a behavioural issue rather than a genetic one...

Me I have scathing words for nigerians and black folks, sometimes I be on that Uncle Ruckus P, lol...

But one thing I NEVER do is claim biological inferiority because there isn't such, nor does it have scientific. basis

Yes, elements of our culture stink
Yes, we dey fall hand

But all that can be reversed

Even if one is not inferior to the other biologically, do you agree we have some very pronounced biological differences? Check a first generation half-cast well and you'll understand. All humans are of the same race, but there are many differences within the race.

Chukwuka16:
Ownership: we need a diversified basket of assets to create, build and sustain wealth

Financial freedom my only hope
F**k livin' rich and dyin' broke
I bought some artwork for one million
Two years later, that sh*t worth two million
Few years later, that sh*t worth eight million
I can't wait to give this sh*t to my children
Y'all think it's bougie, I'm like, it's fine
But I'm tryin' to give you a million dollars worth of game for $9.99
I turned that 2 to a 4, 4 to an 8
I turned my life into a nice first week release date
Y'all out here still takin' advances, huh?
Me and my nigg*s takin' real chances, uh
Y'all on the 'Gram holdin' money to your ear
There's a disconnect, we don't call that money over here, yeah

Over the last couple of days, I have been brooding over some enlightenment that I just stumbled upon. Our patent attorney emailed me our patent issue notice and I decided to investigate the difference between the inventors and assignee (again). I will reproduce below my findings.

In US patents, the inventor is the individual(s) who conceived of the invention, while the assignee is the party who owns the patent rights. The inventor is typically the one who has contributed to the conception and development of the invention, while the assignee may be the company the inventor works for, an investor, or someone who has licensed the invention. The inventor can also be the assignee, but they are not always the same person.

Summary: even if I conceived the idea, if I am not an assignee, I don’t have a claim to any royalty the patent generates. Damn. I could be the ONLY inventor listed on the patent, but the assignee gets to milk and own the commercial rights to the patent.

Last year, I needed to licence our product to some folks in Silicon Valley and so myself and one of our in-house lawyers were in San Francisco to tidy up the deal. We needed some external sounding board and so I scheduled a call with some respected folk in the Nigeria tech/investing ecosystem. That morning just before the call, my MIL passed – damn. I still went ahead with the call and this consultant said some scary sh*t. In the call, he talked about a friend who conceived an idea, got investors and when they sold to a PE firm, this guy was screwed – terms and conditions. Owner thought he was game but alas somewhere in all of the legalese he had shot himself and lost significant cash when they sold. I’ve never been scared.

Sometime in 2023, some white folks and I decided to explore carbon credits. They had contacts with some of the biggest HVAC manufacturers in the UK and Europe, farmers who had installed massive industrial grade heat pumps, large LED manufacturers, housing associations and very big renewable project operators in the UK. I had the tech platform to help extract carbon offsets using one of Verra’s methodology and had worked out 60 pages of mathematical models along with the software to thrash this out. We are also a Registry Account Holder with Verra. When we set out, we didn’t have any contract. The main guy was the monitoring officer (MO) for one of the government projects I had delivered and brought in the second guy.

The “gentleman” agreement was that I will handle cash, while they bring in business. Share was equal after deducting expenses. Then all of a sudden, they started requesting that I provide them with the models as they needed to present these at universities and to other large potential clients. Luckily, I had created three variations of the model – one for LEDs and two for heat pumps (residential and industrial grades). I sent over the LED version to them, and then we continued discussions. Shortly after that, they came back saying a better approach would be for me to white label my software platform to a business they had which they feel will get more traction than my business – they had registered a business with just two of them as directors (so much for equal sharing). No worries if I control cash. Then in one of our meetings, they let it slip that cash would not be handled by me but them – I would be paid by them. Their argument – my company was not credit worthy to receive such cash. I laughed! Then they came and asked for the second/third models. This was the meat, and I knew. If I gave them this, they didn’t need me again. Any average scientist could operationalise the model and they could go ahead and commercialise it.

I told them we now needed a contract. They went ballistic. Told me how my software was nothing without them. I calmly listed all the original agreements we had that they had changed and how a contract was the best option to avoid confusion. They asked me to send over a copy of the contract and also the models as some clients were urgently wanting to see it – hahahahaha, the long con.

Guess what – I almost sent the models to them. While our lawyer drafted the contract, I was conflicted. My wife seeing my confusion asked me to accompany her to the post office to drop off a parcel. She told me that I could send them the models if on return I felt relieved. We returned and I decided to stew over my next decision while I watched TV. Went to Netflix, scrolled down and saw a documentary titled – The Founder (story of McDonald’s). Watched it, stood up, sent them an email that they will ONLY get the models when we have a contract signed by all parties.

Sent them the contract some days later and till today, I am still awaiting their feedback!

We are in a funny world that is changing dramatically before our eyes. There was a time when 60/40 was a solid hedge. 2022 showed that both stocks and bonds could go down same time. Beyond this, we are seeing intangible assets making up significant aspect of valuation for countries and companies. In today’s knowledge-based economy. Many of the world’s most valuable companies derive the majority of their worth from intangibles rather than from physical assets. Intangibles contribute to wealth creation by enabling innovation, differentiation, efficiency, and scalability in ways tangible assets often cannot. In fact, one study of over 860 companies found that the fastest-growing firms invested 2.6 times more in intangible assets than slower-growing firms.

Apple Inc. – often the world’s most valuable company – is a prime example of a business built on intangible assets. Apple’s brand loyalty, software ecosystem (iOS, App Store), and design & innovation capabilities have created a virtually unassailable market position, allowing it to generate enormous profits. Apple’s total Property, Plant & Equipment (PP&E) was about $45.7 billion in 2023, which includes its corporate campuses, data centers, retail stores, and other equipment. Yet Apple’s market capitalization tells a striking story – investors value the company at roughly $3 trillion. Compared to a book value (shareholders’ equity) of only about $62 billion, Apple’s market value is nearly 50 times higher. In other words, over 95% of Apple’s valuation is attributable to assets and expectations beyond the tangible book assets. This gap is essentially the intangible value of Apple – the worth of its brand, customer loyalty, intellectual property, software ecosystem, and future innovation potential.

JPMorgan Chase, one of the world’s largest banks, offers a contrast where tangible and financial assets remain significant, but intangible factors also contribute to value. As a bank, JPMorgan’s business is rooted in financial assets (loans, securities) and trust (an intangible). On its balance sheet, JPMorgan carries substantial tangible and financial assets – about $4.36 trillion in total assets as of 2023, consisting largely of loans, investments, and cash. Physical tangibles like corporate real estate (branch offices, data
centers) are a small portion of this total, but still present (the bank owns many office buildings and branches, reflected in PP&E). These hard assets enable the bank’s revenue-generating activities (e.g. loans generate interest income), creating wealth in a more traditional asset-driven way. However, intangible assets and competitive strengths are far from absent in finance. Goodwill and other intangibles on JPMorgan’s balance sheet amount to roughly $50–64 billion (as of recent years). While these are not listed as assets on the balance sheet, they certainly add value. The proof is in the market’s valuation: JPMorgan’s market capitalization is about $700 billion in 2025, well above its book equity. Investors price in the bank’s earnings power, which comes not just from having lots of loans (tangibles/financials) but from superior management, brand, and technology (intangibles).

Tesla, the electric vehicle (EV) and clean energy company, exemplifies the “mobility” sector (automotive/transportation) where traditionally tangibles dominated, yet it has achieved a market valuation heavily supported by intangibles. By the end of 2023, Tesla’s total assets were about $106.6 billion, including factories in the U.S., China, and Germany, as well as cash, inventory of cars, etc. However, Tesla’s market capitalization – approximately $790 billion at end of 2023 (and over $1 trillion at various points) – far exceeds the value of its physical assets. The difference is the market’s appraisal of Tesla’s intangible assets and future potential.

I decided to also explore universities ranking and their ownership of patents as well as countries and it shows why the US continues to lead.

Our acquisition for tangible assets is great but will afford us limited utility in the new world. Folks, we need to rethink life. Many of the benefits from what we implement today won’t be seen in our lifetime, but we are sure that our kids get to have a seat at the table. Today, our people are being used to generate patentable ideas globally but only get to be listed as inventors. The assignee which is what matters are entities inimical to our advancement. This is no different from the relationships between boxers and their promoters. One gets to receive the beatings and part of the returns with another taking a huge chunk with no beating!

When the consultant I talked with hinted that he has not seen many Nigerians patenting their ideas, I laughed because for us, the cost we were quoted wasn’t a walk in the park. Each patent has cost us around $15k to prosecute. Who has that amount just chilling for something intangible?

He further mentioned that there was a company making over $1 billion annually from the sale of patents which they got from grant applications made by Africans to various bodies. Imagine that. The ideas that will solve our problems across Africa are today patented. How do we think we would break free? We saw a glimpse of this during Covid. They all refused to release the IP for the local manufacture of vaccines. Were it not for God, Africa would have been in slavery 2.0.

When Chinua Achebe wrote “Things Fall Apart”, it made sense for “Eneke the bird” to say that “since men have learned to shoot without missing, he has learned to fly without perching”. This was the level of understanding then. This was a strategy then, not today. You can’t beat the game playing catch-up. You beat the game by having a systems approach and understanding where the convergence point is through foresight. With foresight, you simply setup shop at the convergence point and make a killing as they converge.

I know we like ease – who doesn’t? We catch fun as we migrate from one developed country to another – who doesn’t want to have multiple citizenship and pass that down? We are excited when we purchase that new property – who doesn’t want to be a homeowner in “the abroad”? Who isn’t eager to work in a good company and earn megabucks and have money to “shalaye” regularly? We all like life. I love life too! Unfortunately, this time, it is not about us but the survival of our race.

The lyrics I quoted is from Jay-Z’s The Story of O.J. A breakdown of Jay-Z’s $2.5 billion wealth shows that the intangible aspect is at 58% or $1.45 billion. His brand alone is $1.1 billion. Ditto for Rihanna. Tangible aspect of her $1.4 billion wealth is $270 million with the intangible aspect being $1.13 billion (over 80%). Same with Kim Kadashan. With a net worth of $1.7 billion, intangibles make up $1.45 billion (over 85%). Elon’s $330-$350 billion net worth is only $6 billion in tangibles. Over $320 billion (or 98%) of Elon’s net worth is intangible.

The game has changed. How can we trap and retain IP within our community? How can we leverage our community in growing brands from within us to cater for us long-term? I know that many of us are scarred because of events that have occurred. I have been too, but it does not negate from the fact that that’s life. We can’t fold our arms and watch a whole generation perish because of a few bad eggs. Folks, I say this with pain – any youth who does not see themselves in a top 20 city in the next 20 months will be useless to humanity! This is not a careless statement. We are gradually being excluded from the new world. It seems our fate has been determined – to be the bottom feeders, the peasants of the world who will function solely for the pleasure of the developed world.

Today, a Nigerian youth in Gora, Nasarawa cannot comfortably make transactions overseas with his bank card. He will struggle to pay for hosting fees on Hostinger, Heroku, Azure, MongoDB, etc. In fact, setting up Azure $150k free credit services for startups will require you having a credit card. Where in Nigeria are credit cards issued?

Our priority should be to retain commercial streams for every of our IP from Nigeria. Those intellectuals forced to “dash” their IP to host institutions in the GCC and China (the major culprits here) or the very innovative businesses that are forced to apply for grants to bootstrap their ideas (whose ideas get stolen routinely and patented) need lifelines. How can we get innovative businesses in Nigeria access to $10k as quickly as possible with SAFE note to protect investors? I know the diaspora community can afford this times over. Many will fail – quite so. But the ones that succeed will compensate for any losses. We should be able to take ownership of patents from our creators and agree commercial agreements that guarantee them significant share from any accrued royalty. Vetting and managing these are the easiest things. We already do so for white-owned businesses that we work for.

Food for thought.

As I conclude I am reminded of this statement – “why tip toe through life only to arrive safely at death?”

I have an invention I need to patent.

.

Starmer is really having a torrid time of it at the moment.

He's facing another huge 'volte face' on the Welfare Reform bill or else risk a humiliating defeat next week which might lead to a confidence vote. He will undoubtedly win any confidence vote, but such a vote only 1 year into his premiership doesn't bode well for his future or government. Ironically, Kemi and the Tories are more in support of his bill than his own MPs.

Labour really need a new Strategy and/or Comms director. And maybe a new chancellor.
McSweeney or whoever thought it would be a good idea to lead with 2 controversial reforms that target the most vulnerable in society - the elderly and the disabled - without first building up some significant political goodwill at the very least. It was never going to go down well. And now they're alienating most of the electorate, including their traditional supporters.

Hopefully Keir is able to develop some political nous very soon, else both Labour and Tories will have new leaders before the next GE and Reform may end up marching into No 10. 😬

Hi, it’s over 40 days I applied for ihs refund and yet to receive, while the email sent says: 28 days. What do you suggest I do? Also, will I get a notification when they refund it? Cos I don’t trust the person that owns the account number I used in the payment.

Lilymond:
Hi, it’s over 40 days I applied for ihs refund and yet to receive, while the email sent says: 28 days. What do you suggest I do? Also, will I get a notification when they refund it? Cos I don’t trust the person that owns the account number I used in the payment.

Call 0300 330 7693, have your IHS and application reference numbers handy.

Zahra29:
Starmer is really having a torrid time of it at the moment.

He's facing another huge 'volte face' on the Welfare Reform bill or else risk a humiliating defeat next week which might lead to a confidence vote. He will undoubtedly win any confidence vote, but such a vote only 1 year into his premiership doesn't bode well for his future or government. Ironically, Kemi and the Tories are more in support of his bill than his own MPs.

Labour really need a new Strategy and/or Comms director. And maybe a new chancellor.
McSweeney or whoever thought it would be a good idea to lead with 2 controversial reforms that target the most vulnerable in society - the elderly and the disabled - without first building up some significant political goodwill at the very least. It was never going to go down well. And now they're alienating most of the electorate, including their traditional supporters.

Hopefully Keir is able to develop some political nous very soon, else both Labour and Tories will have new leaders before the next GE and Reform may end up marching into No 10. 😬

I like the man Sir KS, I just hope he's not too honest for politics. He needs to stoop to conquer, but he's a great guy.

babajeje123:
Call 0300 330 7693, have your IHS and application reference numbers handy.

thanks a lot.

New: Keir Starmer says he "Deeply regrets " warning that Britain risks becoming an island of strangers

willyede:
New: Keir Starmer says he "Deeply regrets " warning that Britain risks becoming an island of strangers

It's high time he picks a side and stops dancing on the fence; it's becoming nauseating.

Admin kindly approve. My cousin's brother is applying for a UK citizen application and a question is asked on additional child information that stated:- Do you have any children whose birth parent is not your partner? He stated yes because last year he had a baby in Nigeria with his girlfriend. Although he has been previously married to his wife which he brought to the UK three years ago( They are still trusting in God for the fruit of the womb) but himself and his wife are always fighting in the marriage. He wishes to bring the girlfriend baby to the UK later in the future. Can he explain it in the cover letter to the home office or just answer the question YES and leave explaining to the home office in order not to affect his present application and home office requesting for more documents. The question asked is just a Yes or No question. He said that since he had responded to the questions no need of explaining. He can only explain when applying for a dependant visa for the child. is this okay.

More so will the child be given a British citizen if my cousin applies for him. or does he have to apply as a dependant for a two years visa and also pay IHS? kindly advise. Thank you

Hi guys. I’m hoping to get advice on starting a company in the UK this July, doing genuine business (i.e. trading), applying for a sponsor licence, and eventually sponsoring myself, ideally by November or December this year. I’m wondering if anyone here has experience with something like this, or even just running a small business in the UK.

A bit of background to explain why I’m considering this route. I’m currently on a Graduate Visa and my SOC code has a high going rate that most companies only pay to mid-to-senior level employees with 3+ years of experience. Because of this, it’s been hard to find sponsorship, and I don’t qualify as a “new entrant”, having been in the country for more than 4 years now, so I have to meet the standard going rate.

Right now, I work in construction under a CIS/self-employment arrangement with a small company. They don’t have a sponsor licence and prefer hiring self employed workers to avoid obligations like holiday pay, pensions etc

I’ve spoken with my boss about opening a limited company and invoicing him through it. He’s open to that. In the next few months, I should be able to invoice at a rate that almost meets my SOC salary threshold. I say "almost" because after accounting for employer National Insurance, corporation tax, pension contributions and so on, I’ll still be short about £223/month. That’s not even including other overheads like accountant fees etc.

I’m still deep in research, but it’s honestly driving me crazy that I don’t know anyone here in the UK who owns a company, talk less of someone who has gone this sponsorship route.

So I figured I should ask here:

Has anyone tried this approach before, or know someone who has?
Or even just general advice about setting up and running a small business in the UK would really help.

Thanks in advance.

gabiomoesu:
Hi guys. I’m hoping to get advice on starting a company in the UK this July, doing genuine business (i.e. trading), applying for a sponsor licence, and eventually sponsoring myself, ideally by November or December this year. I’m wondering if anyone here has experience with something like this, or even just running a small business in the UK.

A bit of background to explain why I’m considering this route. I’m currently on a Graduate Visa and my SOC code has a high going rate that most companies only pay to mid-to-senior level employees with 3+ years of experience. Because of this, it’s been hard to find sponsorship, and I don’t qualify as a “new entrant”, having been in the country for more than 4 years now, so I have to meet the standard going rate.

Right now, I work in construction under a CIS/self-employment arrangement with a small company. They don’t have a sponsor licence and prefer hiring self employed workers to avoid obligations like holiday pay, pensions etc

I’ve spoken with my boss about opening a limited company and invoicing him through it. He’s open to that. In the next few months, I should be able to invoice at a rate that almost meets my SOC salary threshold. I say "almost" because after accounting for employer National Insurance, corporation tax, pension contributions and so on, I’ll still be short about £223/month. That’s not even including other overheads like accountant fees etc.

I’m still deep in research, but it’s honestly driving me crazy that I don’t know anyone here in the UK who owns a company, talk less of someone who has gone this sponsorship route.

So I figured I should ask here:

Has anyone tried this approach before, or know someone who has?
Or even just general advice about setting up and running a small business in the UK would really help.

Thanks in advance.

Have you ever heard this term before, IR35....... 😂🤣

Good evening people, have you heard the trending news of the young Nigerian Doctor, Dr. Timileyin Oluseyi who won all 8 residency awards in the USA recently?

As individuals, Nigerians remain super stars. But as a group, we are one of the worst set of people.

I sincerely need an answer as to why we can't lead ourselves successfully, it's mind boggling.

ehizario2012:
Good evening people, have you heard the trending news of the young Nigerian Doctor, Dr. Timileyin Oluseyi who won all 8 residency awards in the USA recently?

As individuals, Nigerians remain super stars. But as a group, we are one of the worst set of people.

I sincerely need an answer as to why we can't lead ourselves successfully, it's mind boggling.

Shebi, we were told here that Nigerians are never qualified for such things

As for why we can't lead ourselves successfully, you have already answered the question; We are superstars as individuals, but worse as a group.

gabiomoesu:
Hi guys. I’m hoping to get advice on starting a company in the UK this July, doing genuine business (i.e. trading), applying for a sponsor licence, and eventually sponsoring myself, ideally by November or December this year. I’m wondering if anyone here has experience with something like this, or even just running a small business in the UK.

Your ltd co can't be your primary sponsor.

Also, your company is a different legal entity from you. That your company makes 50k does not mean you make 50k. You company also needs to meet the IR35 criteria to be regarded as one. This is something the organisations you work for would sort.
You only 'make' what you take as benefits from the company- salary, dividends, loans, e.t.c
You'd only pay NI to the tune you pay yourself a salary.
If you pay yourself a salary, you can opt out of pensions if you wish.

If you don't think it's realistic to get the salary threshold in your sector, while still applying, you might consider pivoting to a different role or leveraging your experience here to seek opportunities in other nations. Not easy, but worth having a backup plan.

ehizario2012:
Good evening people, have you heard the trending news of the young Nigerian Doctor, Dr. Timileyin Oluseyi who won all 8 residency awards in the USA recently?

As individuals, Nigerians remain super stars. But as a group, we are one of the worst set of people.

I sincerely need an answer as to why we can't lead ourselves successfully, it's mind boggling.

We're Silo lated in nature...... 😊😂

ehizario2012:
Good evening people, have you heard the trending news of the young Nigerian Doctor, Dr. Timileyin Oluseyi who won all 8 residency awards in the USA recently?

As individuals, Nigerians remain super stars. But as a group, we are one of the worst set of people.

I sincerely need an answer as to why we can't lead ourselves successfully, it's mind boggling.

The answer lies in our value system and culture as Africans.

Me and Rodgersakpafu had a tete-a-tete about it here recently.

Lexusgs430:
[/b]


We're Silo lated in nature...... 😊😂

Interesting 😎

Raalsalghul:
The answer lies in our value system and culture as Africans.

Me and Rodgersakpafu had a tete-a-tete about it here recently.

Hopefully we get it right someday. Our innate ability is never in doubt, but there's something missing somewhere.

ehizario2012:
Hopefully we get it right someday. Our innate ability is never in doubt, but there's something missing somewhere.

As you think there is an issue, what do you think are the solutions?

There is a cycle to most things in life

It seems Starmer would once again backtrack on many aspects of the benefits review.

So far 4 areas the government has looked to raise funds

1. Ammendment to inheritance tax for farmers - held

2. Winter fuel issue- failed

3. Immigration review- (longer and more expensive) - might likely scale thru as we dont have a strong enough lobby/voting block.

4. Benefit review- unlikely to pass.

With Reeves insistent on not borrowing more that 100% of gdp and state benefit costs (incl pensions) rising yearly, I wonder where all the money for investments would come from.

A good quote I came across recently- still trying to balance a tripod on 2 legs: 'The UK wants American levels of taxation, with Nordic public services and Japanese demographical hegemony.'

ehizario2012:
Interesting 😎

Look at it this way, if a Nigerian owned Tesla in Nigeria...... He/she would want total control and ownership......

Unfortunately, this stems from the availability of FREE government corrupt money, slushing around...... 💵😁

So historically and futuristically, we are wired to function in silos, not forgetting our ingrained trust issues...... 😊😂

jedisco:
It seems Starmer would once again backtrack on many aspects of the benefits review.

So far 4 areas the government has looked to raise funds

1. Ammendment to inheritance tax for farmers - held

2. Winter fuel issue- failed

3. Immigration review- (longer and more expensive) - might likely scale thru as we dont have a strong enough lobby/voting block.

4. Benefit review- unlikely to pass.

With Reeves insistent on not borrowing more that 100% of gdp and state benefit costs (incl pensions) rising yearly, I wonder where all the money for investments would come from.

A good quote I came across recently- still trying to balance a tripod on 2 legs: 'The UK wants American levels of taxation, with Nordic public services and Japanese demographical hegemony.'

😂 kasongo yeye things. It’s good to dream sha even some people believe a new Nigeria is possible. Who are me, lol

What is the easiest country to move to from the UK, please — in Europe or North America

I need help guys. I work in London but my family is based up North. My work allows me to do 2 weeks WFH and 2 weeks onsite every month. I live in a rented apartment paying £650 in London but only stay there for 2 weeks when onsite. In fact, there were months that I didn't stay at all but still paid rent. I need to reduce cost as this is not sustainable as I'm also paying rent in the North. I wouldn't mind room sharing or any other recommendations please.

gabiomoesu:
Hi guys. I’m hoping to get advice on starting a company in the UK this July, doing genuine business (i.e. trading), applying for a sponsor licence, and eventually sponsoring myself, ideally by November or December this year. I’m wondering if anyone here has experience with something like this, or even just running a small business in the UK.

A bit of background to explain why I’m considering this route. I’m currently on a Graduate Visa and my SOC code has a high going rate that most companies only pay to mid-to-senior level employees with 3+ years of experience. Because of this, it’s been hard to find sponsorship, and I don’t qualify as a “new entrant”, having been in the country for more than 4 years now, so I have to meet the standard going rate.

Right now, I work in construction under a CIS/self-employment arrangement with a small company. They don’t have a sponsor licence and prefer hiring self employed workers to avoid obligations like holiday pay, pensions etc

I’ve spoken with my boss about opening a limited company and invoicing him through it. He’s open to that. In the next few months, I should be able to invoice at a rate that almost meets my SOC salary threshold. I say "almost" because after accounting for employer National Insurance, corporation tax, pension contributions and so on, I’ll still be short about £223/month. That’s not even including other overheads like accountant fees etc.

I’m still deep in research, but it’s honestly driving me crazy that I don’t know anyone here in the UK who owns a company, talk less of someone who has gone this sponsorship route.

So I figured I should ask here:

Has anyone tried this approach before, or know someone who has?
Or even just general advice about setting up and running a small business in the UK would really help.

Thanks in advance.

Yes, I had to follow a similar path.Your ltd company can be your sponsor, it's termed unofficially as "self sponsorship". However, you'll need an authorizing officer that is either british or has ILR to be a director or a paid stafff. You'll need at least 5 of the documents below:
Companies House certificate of incorporation
Evidence of Employer’s Liability Insurance
VAT registration certificate
Proof of Business Premises(receipts for office space or deed if using your own house).
PAYE registration
Bank statements
Latest audited or unaudited accounts. (Please do your own research on these documents as things might have changed)

I also added screenshot of emails from clients requesting for my service and I did a report pitching my idea and why I needed the sponsorship license. Entire process for me was about 4months. I got the sponsorship license the next day after I submitted.

Tbh, this is not a route I’d recommend to someone planning to do it for a full 5 years. I’d only suggest it for someone who has about 1 or 2 years left before applying for ILR but hasn’t been able to secure a COS after being made redundant. You’ll need to pay yourself a salary and cover both employer and employee taxes every month, even if your company isn’t making any profit. If you’re able to keep generating income through your company, there will be much more peace of mind for you, since you obviously can’t fire yourself

I almost forgot, there's no amount specified for the bank statement but I'd suggest putting in something reasonable that'll show that you are able to pay yourself for several months.

Raalsalghul:
The answer lies in our value system and culture as Africans.

Me and Rodgersakpafu had a tete-a-tete about it here recently.

Exactly
We are extremely selfish people
Nigerians will go the ends of the world as long as it benefits HIM

He won't do even one tenth of that if its gonna be for collective good

That's why youths will band together ans travel the Sahara, and face touaregs and all sorts of dangers,to go to Europe, a trip with 10% survival rate, rather than press the neck of politicians ruining his life in Nigeria/Africa

Search online for hostels in London area or check out Nigerian community in London for anyone who can host you for lesser amount.

babajeje123:
I need help guys. I work in London but my family is based up North. My work allows me to do 2 weeks WFH and 2 weeks onsite every month. I live in a rented apartment paying £650 in London but only stay there for 2 weeks when onsite. In fact, there were months that I didn't stay at all but still paid rent. I need to reduce cost as this is not sustainable as I'm also paying rent in the North. I wouldn't mind room sharing or any other recommendations please.

bigtt76:
Search online for hostels in London area or check out Nigerian community in London for anyone who can host you for lesser amount.

Thank you. The challenge with hostels is that most don't allow cooking or don't have fridge.

babajeje123:
Thank you. The challenge with hostels is that most don't allow cooking or don't have fridge.

You may have to pick a battle, bro. There will be no perfect option anywhere, and if I may ask, why don't you relocate your entire family close to London? Some towns or cities may be just an hour to London (by train or car), where you can find cheaper accommodation or reasonable ones and if it's depending on your visa status, and whether your spouse is the main applicant and you're the dependent then your best bet is to begin to look for another role close to where your family is right now, you may just continue to experience much stress and burn out with your current shuttle. My view! Cheers.