
How important is international expansion to your business ambitions?
46% of the audience said it’s a matter of survival, while 46% said it’s something for the future.The audience results showed an even split between “absolutely crucial” and “something for the future”, demonstrating a real mix of businesses in the GBA alumni. For Duffy, none of the options really captured where he is at with his business. He explained: “More than half of our revenue comes from the UK and it’s also a really fast-growing bit of our business,” he said. The business focussed on growing a really strong UK brand, and then carefully selecting new markets to break into. “If we lost all of our international business, we’d still have a business that was, within the constraints of the UK, growing.” Chopra echoed Duffy’s thoughts. He too hopes to cement his brand in the UK first, but would be keen to have 50% of his revenues from outside the UK within the next three years. “What I think Brexit has done for us and for a lot of companies has really given us a nudge to not just look at the comfort countries which are around Europe,” he said. For Skerrett, international expansion has had a helping hand from the UK’s ready-made reputation in the insurance, digital and road safety sectors.
What are the biggest challenges you face in growing your business internationally?
Risk aversion is a top challenge according to one in three business owners at the event.In addition, 28% of the audience said hiring local talent was the biggest challenge, and 17% said Brexit and Brexit uncertainty. Overall, a mixed bag. “We wanted to be strong in the UK…we didn’t try to take on something really complex from a regulatory basis or a consumer challenge” explained Duffy. In fact, Bulldog exported to Sweden where it could use the exact same products. “There is a risk when you have your head turned to these exciting international markets that you take your eye off the ball, and I think every business needs to figure out the right time to add in the complexity. “I am an optimist, and I think you should be taking your brand overseas, just in the right way, in a very considered way.”
What is your biggest challenge when it comes to building a sustainable team?
58% said they can’t find the talent they need for their business.“I think most startups and growth businesses should really think about what kind of talent they need, whether they need generalists or specialists,” said Chopra. “When we were starting off, and we were a really young business, we were looking at getting generalists. Really flexible guys who are bright people, who are flexible, who can adapt to the different domains of our business. That worked really well for us.” Over time, as the business grew, it has started to recruit for more specialist talent.
What do you consider to be the most effective weapons in your armoury when it comes to recruiting a future-proofed team?
The biggest pull for recruiting are non-financial perks, good communication and culture, according to 52% of the audience.

Share this story