Ruby Sheldon, founder of Slime Party UK, launched her business in 2018 after a successful children’s party featuring slime. Initially focused on hosting parties, the business pivoted to selling slime kits and readymade pots when the pandemic hit.
With growing international interest, Sheldon needed to scale up production and manage the complexities of exporting. However, she lacked a business background and faced challenges in securing the necessary finance to expand.
In 2022, Slime Party UK collaborated with UK Export Finance (UKEF) and Newable Commerce. UKEF’s General Export Facility provided a partial guarantee on a £55,000 loan from Newable Commerce, enabling the company to open a new factory and expand its workforce by 50%.
The new 15,000 sq ft factory in Barnsley allowed Slime Party UK to meet growing demand and increased its staff to over 20 employees.
With the support, Slime Party UK expanded into Europe and the Middle East, with plans to enter the US and Australian markets.
Slime Party UK continues to grow, exploring further global expansion and managing risks with UKEF’s trade credit insurance products. Ruby Sheldon credits the support from UKEF and Newable Commerce as crucial to their rapid scaling and international success.
This success story has recently been featured in The Times. Read the full article here.
