Oprema Ltd (Cardiff)

Origins

After working in security distribution and installation for many years, the business was started when the directors spotted a gap in the market for a security distributor that specialised in High Definition and IP (Internet Protocol) CCTV products and also had the in-house knowledge to technically support these products. The UK was years behind the rest of Europe on the uptake of these new technologies that the directors knew end user demand would drive in time. Challenges in the first 3 years were mainly around funding and Oprema managed to secure an EFG loan via Lloyds Bank to start the business and also had access to Welsh Assembly grant funding for the website and first brochure. Since then, it has been supported massively by HSBC with various finance facilities and without all of this help the business would not have been able to achieve its growth so quickly. It also took time to build a good credit rating to allow us to receive better credit limits and terms with suppliers. It was similar when trying to agree distribution deals with some of the major brands. Only by building a reputation within the industry would they be prepared to deal with Oprema as many of them do not open many new distribution channels.

Success Factor

The three key success factors are excellent staff - year on year, Oprema has been able to attract more and more key people from inside and outside of the security industry; support from HSBC and key suppliers; and sheer hard work.

The Future

The directors are looking to take the business from £13m turnover (y/e 30 April 2018) to £40m (y/e 30 April 2023) and to achieve this goal we have recently added further key staff in all areas of the business, and this will continue. The business has moved to new state of the art premises in July 2017 and there will be further enhancements with a new industry leading website early in 2019 and bi-annual trade catalogues.