Final analysis of data collated by the EU Federation for the factoring and commercial finance industry (EUF) shows that factoring and commercial finance volumes in the EU grew overall in 2017 by 7.5% to €1.6tn.
This rate of growth again clearly outpaces the increase in GDP in Europe and demonstrates clearly the vital role factoring and commercial finance is playing in developing the real economy, providing principally SME businesses with much needed working capital. This success story is about real growth, real employment and demonstrable business success in supporting the ongoing recovery.
Almost €220bn of funding is supporting over 200,000 European businesses.
With factoring and commercial finance now representing around 10.5% of EU GDP, this is a powerful and important contribution to EU economic development and success.
Mrs Françoise Palle-Guillabert, Chairman of the EUF, said:
"The continuing story of growth in our Industry reinforces yet again the highly important role we have in financing the development and expansion of the real business economy right across the European Community. However, this success should not make us forget that for years to come factoring and commercial finance industry will have to deal with major prudential and legal issues (NSFR, Anacredit, NPL, Basel III, Rome 1, SMEs definition...) and that their voice will have to be taken into account by European legislators and regulators.”