You are at growth stage

Common priorities

• Market intelligence

  This is crucial to any expansion. You need to know who the key players are, how the market is growing and what the barriers to entry are.

  It is likely you have a lot of this in place. We would help by going through this with you to make sure you are looking at the right data and it is telling a realistic story. Given our connections across the innovation landscape, we would also try to source additional data for you.

• New markets

  In the UK this could be pivoting to other markets or customer segments you have identified from reviewing your business model and value propositions – a service we offer our clients, which also looks at channels to reach those audiences, as well as partners, activities and resources required to do it. Underpinning that, we clarify the cost structure and revenue streams to identify whether sufficient funds are in place.

  If you are looking to explore global opportunities and expand internationally, the right strategic partners can unlock regions or countries. You could consider developing R&D and innovation partnerships and collaborations to build longer term relationships or find potential end users and customers.  Again, we would revisit your business model and value proposition through the lens of its relevance for international markets. We would look at what opportunities might be best for you as well as considering legislation, pricepoint, standards/certifications too. The process will help you prioritise which markets to focus on.

  We can help you link into the support provided through Innovate UK Business Growth such as sourcing and establishing connections with new collaborators and business partners through our membership of the Enterprise Europe Network (the world’s largest business-to-business collaboration network); applying to Global Business Innovation Programmes and Global Incubator Programmes; and, accessing international R&D and innovation programmes such as Horizon Europe, Eureka Eurostars and other competitions run by Innovate UK.

• Physical presence

  The time might be right for you to establish another physical presence elsewhere in the UK or abroad. We would help you consider the best vehicle. Maybe a joint venture for example. Our local contacts will help provide you with intelligence in many territories and provide additional insights.

  We would also help you review taxes, insurances, banking structures, legal structures – as well as how these factors affect your head office – to make an informed choice as to how to proceed.