Factoring and invoice finance providers across
the EU achieved a turnover of some €827 billion in 2009,
representing a decrease of only 1.9 percent on 2008’s total,
according to European factoring association EUF.

This drop occurs in the context of a 4 percent
drop in the EU’s GDP, and a 3.14 percent drop in the worldwide
factoring market, of which Europe comprises almost 70 percent.

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The UK led the way, achieving a factoring
turnover of nearly €194 billion over the year, up 2.2 percent
year-on-year and equivalent to more than 10 percent of UK GDP.

Fred Crawley

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