Scaling your growing business at speed is a subtle science. In recent times, companies have been focused on driving unit economics to reach profitability. While this is a trend that shouldn’t go out of fashion, investors are always going to track top-line growth as a lead metric to signal future success.

Sadly, there’s no secret formula or one-size-fits-all approach that guarantees a startup becomes a superscaler.

However, three helpful best practices can help maintain that critical balance between stability and scaling at speed.

1. Choose a strategic partner, not a service provider

Sustainably scaling at speed calls for more than just deep pockets. Partnership is key. True financial partners go beyond banking to offer strategic guidance as you navigate your growth journey.

To do that, they need to demonstrate deep expertise in financial solutions for high-growth companies, crafting the right solutions for you at the right time. To provide the best advice, your financial partners should have a deep understanding of your industry and the competitive landscape you operate in, helping you navigate shifting market dynamics.

Most important is the human aspect. A financial partner will be by your side for years while you overcome the challenges of scaling your business. The best relationships go beyond transactions, products, and services. They should be based on trust, openness, and a shared vision for your company. After all, your banker will be alongside you as you grow, so they need to match your energy and ambition, giving you the right products and solutions at the right time.

So, how do you know what to look out for? Ask yourself:

• What is the bank really offering apart from products?

• Do they have an established track record and reputation in my space?

• What do their existing clients say about their experience?

• How do they behave when things aren’t going to plan?
  

It’s a decision that can stifle or supercharge your success, so choose wisely.

2. Seek out that entrepreneurial spirit

Your banker needs to be able to do more than just hold the purse strings. If they’re going to accelerate your growth, they need to share your entrepreneurial mindset and leverage their experience with high-growth businesses to help you understand whether it’s time to make bold decisions or double down on efficiency.

This is particularly true in the fast-moving, competitive world of technology.

Learning whether to double down on local markets or invest heavily in new opportunities comes with time and experience. If they understand your ambition, constraints, and all the markets you’re operating in, a high-quality financial partner can help you make the right decisions at the right time.

Balancing caution with a cut-throat business instinct is often the difference between success and super scaling.

3. Look for diverse experience

While every business faces unique challenges, there are undoubtedly hurdles that come up frequently when you are growing at speed, particularly internationally.

Avoiding these common pitfalls is another key factor in how quickly and successfully you can scale your business.

The key is to find a partner with a nuanced network. Meeting your growth goals means you’ll need to navigate everything from employment legislation to government policy while breaking into the right business circles.

Again, you should be able to turn to your bank for guidance. Whether it’s lawyers to protect your IP, investors to fund your next equity round, or international networking events that allow you to get your foot in the door, a great partner will open those doors and avoid stumbling blocks well in advance.

At HSBC Innovation Banking, we have a proud history of partnering with high-growth tech and life sciences businesses, creating meaningful connections, and opening a world of global opportunity for entrepreneurs and their investors.

Our dedicated Relationship Managers come with deep sector expertise and extensive investor networks and are experienced in providing financial solutions from seed-stage to IPO and beyond. Whether it’s comprehensive banking, debt capital, plans for buyouts, or Global Funds Banking, we empower the bold to leave their limits behind and share their vision with the world.

Businesses are being pressed to increase profitability, find ways to stay agile, and be more productive. A delicate balancing act, yet one that can be achieved through effective planning and a laser focus on financial data, including top and bottom-line growth. How can emerging companies build resilience and continue to find growth opportunities?

Stay flexible to the macro environment

Emerging companies should prioritise agility as they deal with the effects of the economy. Economic and pricing changes brought on by fluctuations in the market are now the norm, and businesses must act quickly to protect narrowing margins.

Long and short-term business plans should incorporate some element of flexibility, working with finance, inventory, and supply chain data to stress test “what-if” scenarios. For example, businesses can test scenarios such as the impact of raw material prices doubling or supply chain disruptions causing 25% of revenue delays. Then, ask questions such as how cash flow will be affected, what evasive manoeuvres can be taken, and how can risk be lowered with preventative measures.

This all relies on the visibility of real-time, reliable data that provides a single view of the business. When companies lack a clear view of their financial health, it becomes impossible to adapt and plan for possible scenarios. Businesses must keep long-term strategies flexible to maintain business continuity.

"Emerging companies should prioritise agility as they deal with the effects of the economy. Economic and pricing changes brought on by fluctuations in the market are now the norm, and businesses must act quickly to protect narrowing margins."

Companies can grow fast when they are given the right finance, the right advice, and the right skills at the right time. As a high-volume investor that has backed well over 500 companies in the past 12 years, BGF has seen firsthand how this mix of support can accelerate the growth journey of a business.

Finance, in the form of equity funding, is what BGF provides. We have seen time and again the transformative power of an investment between £1m and £20m. It can allow businesses to achieve in a year what would have taken them five or even 10 years to do organically.

Whether it is used for product development, acquisitions, international expansion, or other purposes, finance is a crucial tool for helping businesses achieve their potential.

Advice is also hugely important. To succeed in the long term, a business must deploy its capital wisely. One of the best ways to make good decisions is to seek guidance from those who have done it before. This could include entrepreneurs and investors who have experience scaling businesses in your sector.

Finding the right sources of guidance can be a challenge, but the good news is that the UK has a large and supportive ecosystem for small-to-mid-sized enterprise funding. BGF maintains one of the largest pools of expert business leaders in the country. More than 400 individuals have now been placed on portfolio company boards thanks to introductions from our Talent Network. Time and again, the advice they give has proved invaluable to the management teams who run these businesses.

"As we draw conclusions from this year’s survey, one thing is evident: the UK’s tech industry is a landscape of contrasts. Challenges are met with innovative solutions; expansion plans are balanced with workforce needs and the macroeconomic environment, there is also a collective push for government support."

Going through growth means constantly adapting to change. New challenges, new opportunities, and new risks are around every corner.

That’s true now more than ever: we’re living through a period of exponential technological evolution. The advent of AI, for example, is upending every aspect of our work, and businesses, big and small, need to seek opportunities and steer clear of the risks.

Being resilient in this time means having the right skills in place. But the skills that companies need are ever-changing, so there needs to be a mechanism to rapidly deliver skills that are relevant, up-to-date, and ready for application in the workplace.

The good news is this mechanism already exists: the apprenticeship.

Apprenticeships are often viewed as an alternative to university for school leavers taking their first step into a career. For this function, they are brilliant. Apprenticeships open up access to top careers for young people who simply aren’t being reached through traditional grad schemes.

But apprenticeships are not just for people starting their career. Apprenticeships can offer lifelong learning for established professionals, to enhance the role they are currently doing or move into a new one: helping them as individuals keep pace with the changing employment landscape, and your business keep up with its ever-changing skills needs. This has never been more important than in the age of data and the rapid rollout of new technologies.

In partnership with Deloitte, Multiverse is facilitating the funding to support several hundred apprenticeships through levy donations from big organisations towards startups and SMEs.

Through this funding, a growing business can launch an entry-level apprenticeship programme, attracting new talent from diverse backgrounds into the business. Or, they can plug skills gaps by developing people already in the business - whether it’s enrolling a non-technical worker on our Software Engineering programme to fill a skills gap or a business leader on our Data Fellowship so they can make data-driven decisions based on the trends.

It’s a no-brainer for businesses, which can retain their top talent while expanding their organisational skill set, but it’s also a win for the individuals who are enrolled. They get to enhance the trajectory of their career: a third of those individuals enrolled on Multiverse programmes through the Deloitte Skills Hub received a promotion while they were on their apprenticeship.

There are already 89 organisations that are taking up training from the Deloitte Skills Hub - among them is Goodlord. The PropTech startup has enrolled 20 of its team members on Multiverse’s data analytics programmes, enabling them to harness data better to identify revenue-generating opportunities, make processes more efficient, and predict customer behaviour.

Joanna Harman, Director of People, said: “Through the Skills Hub and Multiverse apprenticeships, we're able to offer our teams access to high-quality training. We work in a fast-paced environment with team members who are keen to develop quickly. That's why it's so important to provide them with training that suits their needs but also helps drive the pace within our sector. We're already seeing the benefit in our team's day-to-day output, and know that training will help to develop their long-term careers.”

We’re offering fully funded professional development opportunities to all entrants of this year’s awards. If you recognise these challenges and want to explore how apprenticeships can help, the easiest way to start is to reach out to the Fast 50 team at UKDeloitteFast50@deloitte.co.uk. You can also learn more about the Skills Hub by visiting our dedicated microsite.