- 06 Jan
Factoring Industry Client Number Growth Projections For 2014
The group that I manage on LinkedIn the UK Invoice Finance Research Group were asked at the beginning of 2013 how they expected invoice finance, factoring and invoice discounting client numbers growth amongst the ABFA (Asset Based Finance Association) members to compare in 2013 with the 3.1% growth in 2012. Of the few that voted, 71% though it would exceed that figure. Although we only have the figures to Q3 so far the year on year growth in ABFA client numbers was 1% at that point. We need to await the Q4 figures but the indication is that it could fall below the previous year. The sad fact is that our research constantly identifies the low uptake in invoice finance as being attributed to a lack of knowledge and understanding amongst potential business users and a lack of promotion of invoice finance by the parties that businesses turn to such as accountants, banks and other advisers. I have set up another poll on the UK Invoice Finance Group for this year, it would be great if more members would give their opinions this year - there is a link in the right hand column.