Slime Party UK, a small business based in Barnsley that specializes in producing toy slime, has recently secured government-backed financing to expand its operations. With the support of UK Export Finance (UKEF) and specialist lender Newable Commerce, the company will be able to set up a new factory, hire additional staff, and introduce new product lines.
Founder of Slime Party UK, Ruby Sheldon, expressed her excitement about the growth the business has experienced and the increasing demand for their products globally. She commended the support from UKEF and Newable Commerce for helping to overcome the challenges faced by micro-enterprises like hers in accessing credit.
Since obtaining the funding, Slime Party UK has opened a new 15,000 square foot factory in Barnsley, with plans to expand its workforce by 50% to meet the growing demands from international markets in Europe and the Middle East. The company also intends to introduce new product lines such as a ‘sensory squish-ball’ and collectables.
In the past, Slime Party UK encountered difficulties in expanding its export business due to limitations in traditional trade finance packages. With the assistance of UKEF and Newable Commerce, the company was able to secure a £55,000 facility to support its growth plans. Additionally, UKEF facilitated access to additional private financing through Dynamic Funding Limited.
The collaboration between UKEF and Newable Commerce has significantly contributed to the growth of Slime Party UK, enabling the business to explore new markets globally and create job opportunities in South Yorkshire. Looking ahead, UKEF aims to support 1,000 SMEs annually by 2029 and improve access to export financing for women-owned businesses.
With this recent support, Slime Party UK is primed for continued success in the toy slime industry and beyond.
