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Tier 1 Entrepreneur application’s can be extended for further leave to remain, however you need to make sure you provide the specified evidences.
You can apply to extend your visa if you have registered as a director or as self-employed no more than 6 months after the date you were given permission to stay in the UK under a Tier 1 (Entrepreneur) visa and that you can prove you’ve been self-employed or working as a director of a business 3 months before you apply. You must also provide evidences that you have created at least 2 full time jobs that have existed for at least 12 months.
You must have invested into 1 or more UK businesses either:
You must be in the UK to extend your visa. You should include any dependants who are on your current visa on your application to extend – including children who have turned 18 during your stay.
The visa should be considered by those looking to start, run or take over a UK based business. The visa allows initial entry for a period of up to 3 years and 4 months for the applicant as well as his/her spouse and children under the age of 18 and can be extended. If the business continues you should be able to gain permanent residence in the UK in about five years