Got an offer but employer can't provide sponsorship yet

Title pretty much sums up the situation: landed and accepted an offer, but prospective employer can't provide sponsorship yet though they are actively working on it.

First question if anyone has any insight into this: how hard is it to get a sponsorship license in the UK? Surprises me it takes this long because there's so much IB/PE shops who have it

Second question: would you advise I keep interviewing as a back-up plan? I don't want to reneg (I feel really good about the team and would see myself there long term) but mainly as a precaution in the event they don't receive the sponsorship license (Idk how likely is that)

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