Prove it in UK first
Tom Dunlop is the founder of LegalTech Summize, which has just completed a £40m funding and reinvestment round to accelerate global expansion. The Manchester-headquartered scaleup also has offices in Boston and San Diego. Dunlop said: “When you’re thinking about going abroad to a new market prove it out from the UK first. Make it repeatable before you put feet on the ground. If you put feet on the ground, I would bring your own staff in the business first for a while. Don’t just hire in that country.”
Tinder for business
Ged Tyrrell is the group CEO of Leigh-headquartered Tyrell Building Technologies Group, which has offices in London and Dubai. TBT Group builds smart building solutions utilising Internet of Things technology. Tyrrell said: “There’s so much innovation in the North West and getting world-beating technology that we’re developing out there is really important. The technology businesses are creating all that technology. My key takeaway from today is match-making target markets, locations, cultures with our products and services is crucial to avoid false starts. Loads of people around the table have got AI-enabled tools to make that happen. Tinder for business.”
Cracking US isn’t easy
Tim Przybysz is the chief executive of Fred Done-backed Sports Tours International. He said: “The US is clearly a good opportunity. The market is huge and the margins are better but if you think it’s an easy win, it’s not. You’ve got to be great in your home market before you go to another market. It can’t be a silver bullet to profit. M&A is great, it fast tracks you, but you inherit a lot of new people that are not always matched to your culture.”
Help is available
Susana Cordoba is the head of international trade services at GM Business Growth Hub
Susana Cordoba is the head of international trade services at GM Business Growth Hub and said help was available for companies wanting to grow internationally. “We recently launched an international scaleup programme exclusively for GM businesses,” she said. “The sector doesn’t matter.”
Maximise brand Britain
Zoe Brimelow is brand director of Manchester-headquartered packaging manufacturer and consultancy Duo. Brimelow said: “I found it really inspiring to hear just how many Manchester businesses are trading internationally and doing things very differently but very well.
“We’ve accessed loads of help through the GM Business Growth Hub and it’s helped give us the confidence to expand. The other thing I’d say is really play on the Britishness of your brand. It worked massively for us.”
Find right global partner
James Wild is an M&A partner at RSM UK and said: “It’s great to see so many great Manchester businesses that are looking internationally. If you are expanding internationally you do need to partner with an accountancy firm that has a global outlook with a serviced offering on a global basis.”
Speak the right language
Marc Balduin is head of operations at Sale-based Pets Purest, which is the UK’s fastest-growing pet start-up brand. He said: “There’s a great network in Manchester, including the GM Business Growth Hub and ASCEND programme.
“A lot of businesses want to collaborate, especially if you’re not in the same sector. Don’t assume that, just because a physical product works in the UK, it will automatically work in a different country. Do our research especially when it comes to translations
Grow our economy
Simon Boyd is a co-founder of Rove, an AI-powered platform to help consumer brands expand into international markets. It was developed by three tech entrepreneurs. Boyd said: “It’s great to see so many British businesses taking international expansion seriously. I think more British businesses could help us grow the economy by being more focussed on international growth.”
Use local help
Tom Armenante is eCommerce director and co-founder at cable tie manufacturer GTSE (The Global Trade Supplies Exchange). He said: “It’s been massively helpful to have someone on the ground in the US. That knowledge in the market and trust signal that provides to customers is really valuable. In the US, each state has different nuances and buying patterns and customers can be quite different.”
BusinessCloud joined forces with GM Business Growth Hub to discuss the opportunities and pitfalls of going overseas
Listen to businesses
Janine Smith is a director of the Greater Manchester Business Growth Hub and said it was important to listen to businesses. She said: “We should be trying to utilise the diversity and experience of the businesses in this room to try and help businesses that are trying to access markets for the first time. You’ve got all the experience and knowledge from our advisors but there’s nothing like getting it from people who have recently done it and are still doing it.”
Choose the right advice
Arran Kirkup is the commercial director of Indiespring, which develops mobile applications. They have two major US clients. Kirkup said: “I’m really glad that we’re a software business. I wasn’t aware of all the support that is available. One of the things I’ve noticed is you’ll get lots of great advice but that advice is specific to the businesses who are giving it.”
Routes to market
Nikki Foster Le-Grys is the chief commercial officer on STEM on Track, which is a year-long STEM and engineering programme where students build and race a real racing kart, applying science, maths, and engineering through hands-on learning.
Nikki Foster Le-Grys said: “My key takeaway from today is thinking about routes to market. We always envisaged we’d be setting up our own offices and hiring our own people and delivering everything ourselves. Actually, we’re looking to sign a licensing deal for Asia, which will probably outgrow our business in three years.”
Easy opportunities aren’t always best
Ricardo Seixas founded One Day six years ago in Manchester, entirely from scratch, and it already works with a number of global brands. The integrated agency opened an office in Poland and is part of GM Business Growth Hub’s ASCEND programme. Seixas said: “Following the language is sometimes the easiest but is not the biggest opportunity. Think about opportunities in place you would not consider, which was the case for us when we opened in Poland.”
Export is the growth route
Daniel Shackleton is a director of Rochdale-based Salt Separation Services, which specialise in marine and industrial reverse osmosis desalination systems. Shakleton said: “There’s an amazing diversity of businesses in Manchester who want to grow by export. For us as a business to achieve our growth aspirations, export is the only route forward.”
Don’t go it alone
Fergal O’Connor is the founder and CEO of Buymedia, an AI-powered advertising platform. The company started in Ireland 10 years and launched in the UK in October, with Manchester as UK HQ. O’Connor said: “You don’t have to go it alone. There are loads of stakeholders and partners in Manchester and the North West, who can help you on your international journey. Engage with those stakeholders before you go on that international journey.”
Different playbooks to succeed
Stockport-based Hamilton Pharma specialise is distributing pharma and medical devices. Founder Manish Mehta said: “It’s great to learn from the amazing businesses around the table. There seems to be lots of different playbooks to expanding internationally, whether that’s M&A, feet on the ground or doing it from the UK.”