As the House of Lords Communications and Digital Committee launches its new inquiry into the UK’s performance in supporting scale-up businesses in the creative-tech industries and AI, international business consultant Graham Budinger is calling for a mindset shift to unlock the UK’s business growth potential.
“The UK has immense talent and innovation in the creative-tech and AI sectors, but we’re falling short in scaling these businesses effectively,” says Budinger. “This inquiry is a crucial step, but we need a fundamental change in how we approach business growth.”
Recent data underscores the importance of scale-ups to the UK economy. In 2023, scale-ups represented just 1% of UK small and medium-sized businesses but accounted for 22% of SME turnover, valued at £497 billion.
Budinger, who launched his first UK business in 1987 and has since built and sold a portfolio of international companies, now works with high-potential businesses to support their growth through GB Consulting. His approach focuses on helping business leaders achieve a step-change in thinking that he believes is critical for scaling up.
“Great business isn’t just about great ideas,” Budinger explains. “It’s about having the processes, people, and performance measures in place to grab opportunities and stand out from the crowd. Many UK businesses have the vision, talent and innovation, but struggle with rapid scaling and market adaptation.”
Drawing from his experience with Signal Advantage Group in Australia, where he demonstrated agile business practices during the COVID-19 pandemic, Budinger emphasises the importance of adaptability and swift decision-making in scaling businesses.
“When the pandemic hit, the people, systems and processes we had in place enabled us to act quickly,” he recalls. “Our team saw the opportunity, not just the challenge, pivoting to produce essential items and securing $650,000 in sales within two days of launching new product lines.”
Budinger believes similar agility and strategic thinking can benefit UK scale-ups. He advocates for:
- Developing robust, adaptable business processes
- Cultivating visionary leadership teams
- Embracing rapid market pivots when opportunities arise
- Investing in streamlined, digital-first customer experiences
“I’m excited about the potential this inquiry holds for UK businesses,” Budinger adds. “Through GB Consulting, I’m committed to helping more UK companies achieve scale-up success. I believe we can significantly increase the percentage of scale-ups in the UK, driving economic growth and innovation, not just in creative-tech and AI but in wider sectors such as renewable energy.
“I know the UK can do better than one percent scale-up and I look forward to being part of the journey.”
GB Consulting offers one-to-one consulting services and plans to launch online programme access in 2025, aiming to make growth strategies more accessible to smaller businesses and startups. For more information about GB Consulting, visit https://gbconsulting.uk/.
