(United Kingdom – 24th May 2012) Representatives at Target Business Assist are currently revelling at the news that the invoice factoring industry has been given a massive lift. As is being reported in much of the mainstream media, invoice finance is becoming an increasingly dominant source of working capital funding. Demica published their findings last week and it has provided some rare joy for those connected with finance in the United Kingdom.
As availability and lending criteria for relationship credit remain increasingly stringent in Europe, this has been outlined as the first time that the aggregated invoice finance market has been analysed as a single entity. This survey analysed all suitable criteria including trade receivables securitisation, factoring and invoice discounting, supply chain finance, and a range of other invoice-based finance strategies.
Indeed, Demica’s new research reveals that the aggregated European invoice finance market was estimated to be worth £892 billion in 2011 compared to £811 billion in 2010. The figure was just £690 billion in 2009. The latest figures constitute a compound annual growth rate of over 10% meaning that the industry as a whole is actually sitting rather pretty considering the dire state of the British economy and indeed, the Eurozone as a whole.
Individuals looking for updates on this story and all the other relevant news articles in the finance and accountancy sector are advised to take a look at http://www.targetbusinessassist.co.uk/. The site contains a whole host of helpful categories, not least regarding the invoice factoring concept.
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