Shropshire toy firm proves Olympics are a golden opportunity
SHROPSHIRE-based Golden Bear Toys, this week named as the official manufacturer of mascots for the London 2012 Olympics, has signed a multimillion pound trade finance deal with Lloyds TSB Corporate Markets to help fund fulfilment of its orders.
Meanwhile, Lloyds Banking Group is urging the UK’s thousands of small and medium sized firms to bid for their share of untapped business opportunities in the run up to London 2012.
Golden Bear’s MD, John Hales, said: “Lloyds TSB is a 2012 sponsor, and has an in-depth understanding of what it means to be a supplier to the Games and as a result they’ve been able to create a tailor-made finance package to help us achieve our production goals.”
Chris Pennick, Relationship Director for Lloyds Banking Group in the West Midlands, said: “We’re delighted to be supporting such a well established and treasured Shropshire business as Golden Bear Toys. Their appointment to the supplier roster proves that there are plenty of opportunities for businesses outside of London to be a part of the 2012 Games. Lloyds Banking Group has pledged to make £1 billion available to help businesses benefit from these opportunities and we’re very pleased to be putting some of this funding to good use for Golden Bear.”
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Established in 1979, Golden Bear Toys is one of the UK’s leading manufacturers of toy products. The company made mascots for the 1992 Olympic Games in Barcelona and the 2008 Olympic Games in Beijing. Golden Bear’s license for the 2012 Games will see the company manufacture a range of gift products including key rings, mobile phone charms, collectable figurines, car mascots, backpacks and tote bags.
Mr Pennick said: “As Golden Bear’s news shows, firms in all sorts of sectors, right across the country, could be winners if they explore the opportunities available to them courtesy of the London 2012 Olympic and Paralympic Games. Businesses should be deciding now how they will turn these opportunities into sustainable business growth ideas and create demand for their products and services.”
With two years to go until the Games begin, London 2012 Organising Committee (LOCOG) is procuring over £700m of goods and services – from sporting equipment to temporary buildings. It is also seeking licensees to produce, distribute and market London 2012 branded merchandise. These contracts are available, not just in London, but right across the country.
However, the real boost to UK small businesses could come from the range of wider supply chain contract opportunities that are becoming available across the UK regions and in sectors as varied as technology, logistics, hospitality and security. These opportunities are emerging now, as firms with larger contracts already secured look to bring in other firms to help deliver their projects.
