Swansea based exporter of iconic children’s character themed clothing is the first Welsh business to receive support through UK Export Finance’s General Export Facility
Swansea-based clothing company Character.com exports children’s clothing and accessories across the world with recognisable characters from film and TV shows such as Harry Potter, Star Wars and Peppa Pig. The UK’s television and film industry is a creative powerhouse, and the popularity of these products demonstrates its importance.
Husband and wife team Stephen and Karen Hewitt set up the business in 2009. It is one of the fastest growing companies in Wales with an annual turnover of more than £50 million.
Character.com exports its products to markets all over the world including in Europe and North America.
Working with its bank Barclays, Character.com has benefited from UKEF’s new General Export Facility (GEF), securing a £3 million trade loan facility. GEF allows the UK government to guarantee up to 80% of a facility offered by a bank to finance exports. It is aimed at supporting small and medium-sized enterprises (SMEs) as they scale up their business operations.
Character.com took advantage of this facility, providing the company with additional working capital to support and optimise the business’s growth strategy.
Character.com’s Finance Director, Helen Morgan said:
Minister for Exports, Graham Stuart MP, said:
Barclays Trade Director, Amy Wilson said:
Minister for Wales Simon Hart said:
Background
About UK Export Finance
UK Export Finance is the UK’s export credit agency and a government department, working along-side the Department for International Trade as an integral part of its strategy and operations.
Established in 1919, it exists to ensure that no viable UK export should fail for a lack of finance from the private market. It provides finance and insurance to help exporters win, fulfil and get paid for export contracts.