As readers of TRF News are likely to be aware of, factoring in the EU and the UK accounts for nearly 67% of the global factoring volume provided by the industry to small to medium-sized enterprises (SMEs) annually. According to published data by FCI, the total factoring volume for the year ended December 31, 2020, in Europe (including the UK) was €1.845tn and for the same period total global factoring volume equalled €2.727tn.