LOCAL textile companies are set to save thousands of pounds through a new yarn exchange scheme initiated by knitwear companies in Galashiels and Hawick.
The Yarn Exchange is a specially-developed database-driven website that will enable textiles businesses to sell and buy excess yarn.
The site addresses an age-old issue for the industry, resulting from the fact that in many cases yarn is sold in minimum order quantities.
This means that even when only a tiny amount is required for a garment, a large supply has to be purchased and until now there has been no easy means for companies to utilise the surplus.
Hugh Williams, coordinator of the South of Scotland Creative Clusters Project, says the yarn exchange will enable companies to sell surplus yarn to other textile businesses.
“It will benefit both the buyers and the sellers. The sellers get the money and the buyers can access smaller quantities of affordable yarn,” explained Mr Williams.
Currently, the sellers are all textile companies based in Scotland, but there are plans to extend membership to the rest of the UK.
Rosemary Eribé, founder and director of one of the companies involved, commented: “In the future it will be through co-operation and sharing resources we can keep this centuries-old industry alive.
“Our members will also be able to interact with each other through their company profiles and our message boards.”