Internationalisation is still a #1 priority for Scale Ups
I once again felt privileged to be in a room with leading Scale Up luminaries including @Sir John Livingstone and Captains of Industry, notably @Sir Jonathan Symonds, Chairman of GSK.Well Done again to the team @Scale Up Institute who monitor and campaign for Scale Ups so effectively.
This illustrious group alongside the UK Chancellor of Exchequer, the British Bank, the LSE and Innovate UK all know that scale ups are increasingly the future of the British economy and all economies across the globe.
UK Scale Ups generate a total of £1.3 trillion, 58% of total SME revenue and despite representing only 0.5% of the SME population, employ 1.8 million people.
It is widely acknowledged that Diverse, multicultural and internationally present teams are more innovative and achieve true scale up status (£10.2 million annual revenue) more easily.
Somewhat surprisingly, only 5 in 10 Scale Ups actually export, although 7 in 10 plan to. 64% say that they need access to more international markets to grow faster, especially as the British Chambers of Commerce and DIT have cut their funding support.
Pre-Scale Ups need even more international support.
What are the key barriers to international trade and how Transaction Focus (TFocus) can assist?
43% say they have limited access to customers overseas :
- TFocus has strong presence in 40 countries to help and can hire sales teams in 160
34% do not have the talent to win overseas customers:
- TFocus provide sector specialist in country talent that is effectively your own talent
4 in 10 request tailored export trade support i.e. missions:
- TFocus have coordinated such missions for The European Union and PwC
We have also been growth advisors for Grant Thornton and are specialist overseas business developers who search out and close contracts for you.
Transaction Focus have a track record of happily working hand in hand with British Chambers, DIT, Consulting, Law firms, Accountants, Employment of Record Companies (i.e. Omnipresent) and investment firms as collaborative partners.
Written by Charles Smee, Founder and Managing Director of Transaction Focus