Factoring: Win-Win Form of Business Support
Factoring has 3 main services which can be used separately or all together.
- Working Capital Solutions
- Receivable Management (and collection)
- Credit Insurance
Across Europe, Factoring represent more than 10% of GDP and globally this figure is around 3.5% and continuously rising. In addition to this, European Factoring market consists 67% of Global Factoring market.
According to EUF (EU Federation For Factoring And Commercial Finance), Factoring turnover in the first half of 2017 for European countries exceeded 776 Billion Euros. In 2016, it was about 705 Billion Euros which shows there is 9% increase. This growth shows the important role played by the Factoring industry in providing additional working capital to support businesses.
You can read more about Factoring and its advantages for SMEs as well as for large corporates from the following article which was published by EUF.