News
Making a world of difference
9 Oct 2024
International markets have their challenges – but businesses that demonstrate a combination of focus, flexibility and unshakeable self-belief are still finding plenty of opportunity over the border.
British exporters have faced some challenging headwinds in recent times. According to the British Chambers of Commerce, just 24 per cent of SMEs reported a rise in overseas sales in the first quarter of this year. However, despite the tough environment, two thirds of The LDC Top 50 leaders are exploring global markets.
Take Guy and Leeanne Hundleby, who channelled their passion for leather goods into creating a modern Scottish luxury brand with global appeal – Strathberry. “Our products previously had a different look – very Scottish – but we wanted something more minimalist and international,” says Leeanne.
This approach paid off. The Princess of Wales chose the brand’s Mosaic Nano bag for the Christmas Carol service at Westminster Abbey last year, leading to a surge in demand, and 70 per cent of sales now come from overseas. “We’re doing lots in North America, which is now 60 per cent of online sales,” says Guy. “We work wholesale with Nordstrom, Neiman Marcus, Saks and Bloomingdale’s.”
The couple plan to double down on the US market in the coming year and are also making strides in Japan. “We have a new distributor over there – our craftsmanship and design aesthetic resonates in Japan,” says Guy.
“The global handbag market is worth over £50 billion and we have a tiny piece of that,” adds Leeanne. “Our growth will come from getting our name out there.” Targeting 40 per cent year-on-year growth, Strathberry hopes to reach £100 million in turnover by 2027.
Dr Olga Kubassova, founder of Image Analysis Group (IAG), is proving that science knows no borders. With 90 per cent of sales coming from overseas, IAG has teams in the UK, the EU, the US and India, and also does business in China and Korea, as well as Europe. “It’s interesting to note the different cultural takes on things. There’s huge respect for medical science in Asia – they are very innovative in their development, real trailblazers,” she says.
IAG supports new drug development through clinical trials and imaging – helping to gather evidence for the efficacy of treatments. “We check for safety and whether a new drug is working. One of the most critical aspects of the clinical development process is to do it right – you don’t want anything going wrong and leading to misleading outcomes,” says Dr Kubassova.
Her unique position as a smaller, more nimble player in a specialist market that has seen lots of consolidation gives IAG the edge on the global stage. “There are not many companies doing it successfully. Consolidation is a huge driver for the market. Customers need something sizeable but not gigantic so they can work closely with the team of scientists,” she says.
Having grown 100 per cent per year pre-Covid, IAG is now looking at 30 per cent annual growth.
It’s still an incredible market. Everyone recognises the value of imaging. We’re taking the world one continent at a time.”
For Yomi Tejumola, founder of Algomarketing, the mission is clear: to restore joy in the world of work. To this end, the data scientist and former Google employee set up a company that focuses on automating mundane tasks within the marketing function. “This frees people up to be able to do the more strategic work that requires them to think, be creative and generate ideas,” he says.
It has struck a chord with the likes of Google, OpenAI, Zoom, Cisco and Stripe. “The biggest innovators in the world rely on us to stay at the forefront,” he says. “We solve the complex challenges within sales and marketing to help them be more autonomous.”
The company has teams in 32 countries and offices in the US, Singapore, Netherlands, Nigeria and the UK. The international outlook is reflected in its sales, with 65 per cent coming from outside the UK. Revenue does come from Europe and Asia but the lion’s share is from the United States. “It’s our fastest-growing region because of AI and how it’s being adopted there,” says Tejumola.
The biggest innovators in the world rely on us to stay at the forefront.”
The true mark of an entrepreneur
With products such as braille menus and board games, the winner of the new Youth Ambition Award makes life easier for those with visual impairment
“I want to make the world a better, more accessible place for visually impaired people like me,” says Brandon Hulcoop, founder of All Things Dotty and winner of the inaugural Youth Ambition Award, which recognises a standout entrepreneur from The Prince’s Trust Enterprise Programme.
Hulcoop, who has been blind since birth, came up with the idea for All Things Dotty during lockdown. “I was bored and wanted to do something that might help others, so I started making and selling braille greeting cards,” he says.
Struggling to generate sales, Hulcoop closed the business after a year and fell into a period of unemployment and depression. “It was hard finding work. Nobody wanted to take me on because I was inexperienced and most companies couldn’t get past the fact that I’m visually impaired.”
At the beginning of last year, Hulcoop signed up to The Prince’s Trust Enterprise Programme, which is backed by LDC, the largest supporter of young entrepreneurs at The Prince’s Trust, and designed to inspire the next generation. “The course taught me how to create a proper business plan and helped me feel far more comfortable with business finance and tax,” he says.
“They modified the course materials so that I could access them and wouldn’t feel left out.”
With the help of two Prince’s Trust grants, Hulcoop bought a braille embosser, invested in textile graphics software and advertising, and relaunched All Things Dotty in April 2023. Alongside greeting cards, Hulcoop has expanded the braille range to include colouring books, board games and online tuition.
He has also started creating braille menus for cafés and restaurants, and has petitioned the government to introduce legislation that requires all hospitality venues to have braille menus. “Restaurant owners already do a lot for disabled people, which is great,” says Hulcoop.
