2019 DCC Business Accelerator Programme winner’s top four tips to unlock business growth
The DCC Business Accelerator Programme recently handed the 2019 winning company, Ocean Plastic Technologies, a cheque for R700 000. This is a preferential loan allocated for the roll out of the pioneering technology developed by this innovative business. Oliver Nudds, Managing Director of Ocean Plastic Technologies, says he was blown away by the unexpected windfall. “Since we were selected as the winning business in December 2019, we’ve had incredible support from the DCC Business Accelerator and the release of this funding confirms their ongoing commitment to the growth of our business,” he explains.
The Durban Chemical Cluster Business Accelerator Programme has been developed to drive sustainable and value-adding transformation initiatives that both assist and promote the growth and development of local SMEs. The release of this funding to Ocean Plastic Technology has been made as the company has completed the required growth-oriented business plan and intense mentoring process. “Working with our mentor has been incredibly enabling. He helped us to realise our business needs to focus on two unique propositions: our tremendous value at the front end of the business in the design, rapid prototyping and manufacture of plastic products from regained material; as well as the huge value in the reclamation process which secures our raw material,” says Oliver. “With this direction, we’ve mapped out an exciting growth plan that will start rolling out in the next few months.”
Based on the lessons learnt, Oliver shares his top four tips for entrepreneurs:
1. Never stop learning
No matter how much you think you know about business and industry, there’s always room to learn more. With an open mind and agile approach, you will find opportunities to grow your business. We had a plan to grow the business by adding more processes but working with our mentor, we realised we could source these for much less externally. It was a great lesson that continues to shape our business approach.
2. Deliver solutions
Where there is a problem, there is an opportunity for you to develop a unique solution that can unlock growth. To give you an example, the idea for our micro recycling plant was born while I was in the Philippines and saw hotel staff scrambling to clean up plastic waste that had washed up on the beach after a typhoon. The concept of a mobile recycling unit has provided a solution for our own raw material and with the interest we’ve been getting internationally, there’s great export potential too.
3. Always accept help
This refers to the entire experience with the DCC Business Accelerator Programme. From Day One, where we were given free membership to the Durban Chemical Cluster for a year, to interacting with business leaders at the event, to unlocking prizes and the incredible mentorship we’ve received, the Programme has been invaluable. So, accept help when it’s offered and be open to listening and learning everything you can.
4. Never give up
You have to believe in what you are doing. This will get you through the tough times and there’s no bigger storm than the one we are in now. The impact of Covid on our business has been huge. Within days of lockdown being announced, we put our proof of concept for our micro recycling plant on the backburner and pivoted the business to produce face shields. Do what you have to do to survive but if you’ve got a dream, never give up!
And that’s just what Ocean Plastic Technologies is doing. With the additional funding made available by the DCC Business Accelerator Programme, Oliver says the plans to deploy the micro recycling plants can be accelerated. “The release of the loan will help us scale for additional growth,” says Oliver. “But a special mention has to go to the Programme’s sponsors, Ferro Polymers and NCS Resins. The fact that this funding has been granted in the current economy shows their ongoing commitment to small businesses.”
For more information on the DCC Business Accelerator Programme visit https://durbanchemicalscluster.org.za/business-accelerator/.
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