The Home Office will assign you a licence rating and add you to the UK Sponsorship Licence registry after your application is approved.
After that, you will be allowed to offer Certificates of Sponsorship to any non-EEA or Swiss nationals who are qualified for sponsorship.
In most cases, your licence will remain active for the duration that you are eligible, unless you are sponsoring workers for Scale-up or UK Expansion. Failure to comply with your responsibilities as a sponsor may result in the Home Office suspending or revoking your Sponsor Licence, or even imposing a Civil Penalty.