Vladimír Urbánek (Kurzy.cz)
Business  |  October 08, 2012 14:54:12

European factoring thrive. Increases in our


European and Czech factoring grow despite the adverse macroeconomic developments in the region. This follows from the semi-annual statistics Federation for factoring and commercial finance (ERF), according to which the sector in terms of turnover of assigned receivables, for the first six months of the year increased by 4%, while the sessions of this turnover to GDP ERF member countries rose to nearly 10% .

Growth of factoring, which is used by small and medium-sized companies also confirmed domestic data. According to data from the Association of Factoring Companies (AFS) in our country despite the declining performance of the economy has increased the accumulated value of receivables assigned factoring companies in the first half by about 1.2% compared to the same period last year. "It shows that the economic problems of stimulating demand for alternative sources of finance. Entrepreneurs had to look for new, more flexible tools to ensure operational funding than traditional bank loans, "said AFS President and board member of the Czech Leasing and Finance Association(ČLFA) Tomas Moravek.

Factoring is a particularly good source of financing for small and medium businesses whose customers require a longer period of time due invoices. Factoring company takes over from them claim to them based on agreed payment conditions arise. Immediately upon assignment of a receivable factoring company will release the client's account an amount that represents a substantial portion of the nominal value of the receivable. After the customer pays the invoice amount to the account of the factoring company, the transaction is settled and the client has a supplement.Factoring services are granted almost exclusively based on long-term cooperation between the provider and the client, and are thus primarily intended to address the problem of one-off transactions or business relationships.

The cost of factoring consist of two components: the factoring fee for the administration associated with the assignment and management of receivables and interest on drawn amounts.While factoring fee is determined as a percentage of the nominal value of the receivable and usually does not exceed 1.5% interest rate moves at normal rates charged by the banks for overdrafts.

"Especially in mature Western markets is a normal part of factoring financing, especially in the sector of small and medium-sized companies. Last year, the total value of receivables assigned factoring companies around the globe 2.6 trillion euros, and only in the Czech Republic, it was 128 billion crowns.From this it is clear that alternative methods of financing have a real impact on global economic developments and the individual national economies, "says Tomas Moravek.

Turnover assigned claims in the Member States of the European Federation for factoring and commercial finance (ERF) in the 1 half of 2012 (in millions of euros)

turnover                 % Of GDP

Belgium                                       20437               10.95%

Czech Republic                       2,5893.52%

Denmark                                     4,325                  3.60%

France                                     91570               9.10%

Ireland9,393                  11.50%

Italy                                         85858               11.16%

Germany                                  77643               5.98%

Netherlands                              25171               8.32%

Poland10300               5.76%

Portugal                              11586on

Greece                                       6,245                  6.32%

Spain                                 60845               11.50%

Sweden15864               7.89%

Great Britain                            137702             14.68%

ERF total                              559529             9.67%

The information is based on evidence from members of the ERF, which in 2011 accounted for 99.2% of total turnover ERF. Data were adjusted in order to eliminate bias due to exchange rate fluctuations.

European Federation for factoring and commercial finance (ERF)

brings together national and international institutions that are active in this field. ERF members represent more than 97% of industry turnover in Europe. The aim is to improve the availability of ERF funds for business activities, with special emphasis on the sector of small and medium enterprises.ERF is a member of the Czech Leasing and Finance Association.

More in: www.euf.eu.com

Czech Leasing and Finance Association (ČLFA)

is an interest group of companies engaged in non-banking finance and operating leases, loans and installment sales to households and businesses and factoring. Since its foundation in 1991, promotes their common interests and is a partner of the state authorities in solving problems relevant sectors of the financial market. Currently has 53 members.

More in: www.clfa.cz

Paul Hálek

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