BSN (Busina Ltd)
I attended the Coventry & Warwickshire Chamber export finance roundtable this morning - a genuinely informative session on the funding tools available to UK businesses looking to grow internationally. What struck me most, however, was a theme that came up repeatedly around the table: many businesses remain cautious about international expansion, not because of funding, but because of a lack of awareness of what it actually takes to succeed in a new market.
It was encouraging to hear that UKEF doesn't just provide financial instruments but also supports businesses in preparing for export - because preparation is everything.
The latest C&W Quarterly Economic Survey backs this up - local businesses consistently show strong domestic confidence but persistently struggle to convert international ambition into international sales quarter after quarter.
The ambition is clearly there. So, what's getting in the way?
In my experience working with businesses across 12 European markets, the answer is rarely about the product or the market opportunity. It's almost always about how businesses approach the expansion itself. I want to share three observations from that experience - not because I assume you haven't considered them, but because they come up time and again, and getting them right makes all the difference
Validate your business model before you enter the market.
Many businesses assume that what works at home will work abroad. They move fast, invest early and then discover that customer behaviour, competition and market conditions are fundamentally different. By then, they've already committed time and money.
Before entering any new market, clearly define your business model and its key success drivers. Then gather real data and insights from the target market - don't rely on assumptions. Validate what stays the same, what needs to be customised, and what entirely new elements the market requires. Remember - the validated and customised model, and your plan to build and promote it within the new market environment, is your go-to-market strategy. Get this right before you invest.
Build your financial scenarios before you commit to the investment.
Most businesses either skip financial modelling altogether or do it too optimistically. They enter a new market underprepared for how long it takes to generate returns - and run out of patience, resources, or both.
Start by building a detailed revenue KPI tree - break your revenue down to its lowest drivers: number of customers, retention rates, average order value, price per unit. Make documented assumptions for each driver and put them into a timeline. This forces rigorous thinking before you commit and gives you a tracking framework once you're in market - so you know exactly what is happening and why after three, six and twelve months.
Then combine your revenue forecast with all associated costs into a full P&L. Build three scenarios - optimistic, realistic, and pessimistic - and ask the honest question: are we genuinely ready to fund this for as long as it takes?
We are happy to share our full KPI tree methodology with anyone who would find it useful - just reach out.
Dedicate separate resources before you begin execution.
International expansion is almost always handed to the same people running the current business. In our experience, this is the single biggest showstopper. The existing business will always take priority — and the new market gets half the attention it needs.
Founders consistently underestimate how much time their current team actually has. When you map existing responsibilities alongside expansion tasks, people are always surprised. It cannot be absorbed on top of a full-day job.
The rule is simple: the higher in the organisation you dedicate resources to the expansion, the faster it will be executed. Ideally, a senior leader, at a minimum, a dedicated project manager. The cost of a dedicated resource will always be less than the cost of years of slow progress and delayed first revenue.
Closing:
These three steps may feel familiar to some of you - and if you're already doing all of this, that's brilliant. I'd genuinely love to hear your experience and compare notes. But if any of this is new, or if you're at the point of making this decision for your business right now and want to sense-check your approach, please don't hesitate to reach out. We've navigated these challenges across multiple international markets and are happy to share what we've learned.
Oksana Lowndes BSN (Busina Ltd)
