Factoring and commercial finance continues to grow
This important provider of finance to the EU real economy maintains growth
Data collated by the EU Federation for the Factoring and Commercial Finance Industry (EUF) shows that in the first half 2019 factoring and commercial finance volumes in the EU grew by 9.3% from 2018 to €896bn. That represents 11.2% of EU 28 GDP.
This continued growth again clearly outpaces the subdued increase in GDP across Europe and demonstrates the vital role factoring and commercial finance is playing in developing the real economy, providing principally SME businesses with much needed working capital. The EUF is delighted to be able to share this success story which is about real growth, real employment and demonstrable business success.
Mrs Françoise Palle-Guillabert, chairman of the EUF, noted: “Following the impressive growth for our Industry in 2018, I do appreciate to report this continued success in building support for businesses right across the spectrum within the EU28. Factoring and commercial finance is a real contributor to economic development and these results again reinforce our message to legislators and regulators: in delivering European wealth creation, this industry has a key role to play.”
