The 17% mindset: What separates entrepreneurs who go global

The past year has created turbulence for the vast majority of founders. We’ve seen shifting tariffs and trade rules,  volatile freight costs and a jittery global economy, and Australia Post even paused small parcel deliveries to the US. Expanding offshore has become a maze of logistics, cash flow risks, compliance and brand control. Yet the prize is real – diversified revenue, deeper resilience and new customers who value what Australian businesses do best.

Against this backdrop, Xero’s It’s your business report provides a reality check on ambition. Only a small minority – 17% of entrepreneurs – say global expansion is on the near-term horizon, even as the vast majority believe Australia is a great place to start a business and feel satisfied as owners. 

The question isn’t whether going global is hard – it’s how the founders who do it turn turbulence into a plan.

So what holds founders back from international expansion – and what helps the 17% move forward? To put these findings into perspective, we sat down with Almira Armstrong, founder and creative director of luxury fragrance house LUMIRA, which now sells overseas.

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A ‘spark’ forged with meaning and craft

“The spark was deeply personal,” Armstrong says of how it all began for her business. “I had always been drawn to fragrance as a way of holding onto memory – the way a single note could transport me to a place, a person or a fleeting moment.”

Having such a solid ‘creative north star’ guided Armstrong’s early decision-making.

“When I began working with fragrance in 2013, it wasn’t about chasing a market gap, but about creating something I genuinely wanted to live with: perfumes and candles that married beautiful design, storytelling and a sustainable ethos.”

In terms of testing customer demand offshore, Armstrong favoured low-risk experiments over big leaps.

“The first steps were small and deliberate. I tested the waters through wholesale partners and boutiques that shared our ethos and design sensibility. When I saw how naturally the storytelling resonated – how universal the language of scent, memory and design could be – I knew it was more than a one-off opportunity.”

Be flexible across borders, but always true to yourself

For premium brands, the fear of dilution can stifle big ambition. Armstrong’s answer? Protect the core and adapt the edges.

“Consistency has always been my north star,” she says. 

“Whether it’s pricing, product packaging or the visual language of our storytelling, LUMIRA is positioned as a luxury fragrance house, and that does not change across borders. Where we adapt is in etiquette: understanding cultural nuances in communication, tailoring distribution strategies and sometimes adjusting the cadence of launches.”

The hard stuff is rarely glamorous and can feel overwhelming, which is why many founders hesitate to scale overseas.

“The operational side – logistics, compliance and cash flow – has been the most surprising,” Armstrong says, and she’s more than candid about the realities. “Freight costs, currency fluctuations and distributor negotiations all presented challenges I didn’t fully anticipate at the start.”

For the 83% of entrepreneurs who say Australia is a good place to start a business, such operational frictions explain why fewer set their sights on going global – but they’re also solvable with the right planning and people.

Xero’s research found  most entrepreneurs (79%) feel they have support networks, but just under two-thirds (65%) feel confident running their business. This implies they know where to go for support, but not necessarily how to apply it in practice. 

This is where tailored, one-on-one support from an advisor – like an accountant or bookkeeper – is critical. In fact, founders who seek guidance from an accountant or bookkeeper are more likely to grow revenue and feel confident than those who don’t.

“What I wish I’d done sooner is trust my instincts on scaling internationally and lean into mentorship earlier,” says Armstrong. 

“Having the right advisors can make those big leaps feel less daunting. My circle is a mix of creative peers, business mentors and sustainability experts. Their role is to sharpen my thinking, not steer the brand.” 

Are you an ambitious achiever, lifestyle entrepreneur or situational founder?

Based on the entrepreneurial archetypes in Xero’s report, ambitious achievers looking to go global would benefit from starting with a simple, long-term goal, and working backwards. With the help of a support network, consider running a pilot through wholesale partners, stress-test unit economics with realistic freight and currency scenarios, document region-specific compliance, and set non-negotiables that will protect your brand’s promise everywhere customers meet it. 

If you’re a lifestyle entrepreneur who values craft and flexibility, you can still go global – on your terms. Armstrong’s approach shows how, as she began with small, values-aligned partners and let her customers’ pull (not the founder’s push) dictate pace.

And if you’re a situational founder, advisors can help you turn momentum into a solid plan – one that meets your objectives for international growth.

Ultimately, the difference between the 17% who expand and those who don’t is less about their appetite for risk and more about having a clear roadmap and purpose. 

As Armstrong puts it, LUMIRA doesn’t change across borders. “The brand’s DNA – sustainability, design and sensory escapism – remains intact everywhere.”

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