Evaluating the potential for receivables based finance in Europe - homing in on a largely untapped market?
There has been significant growth in receivables-based finance over the past few years, particularly within Europe. According to Factors Chain International, the European factoring market accounts for over 70% of total global turnover and it has increased by 80% over the past 5 years, from £188 billion in 1998 to £338 billion in 2002. But what do these figures tell us in terms of potential for further growth and the possibility of entering and competing in the European market? Despite the creation of the European Union (EU) and the accompanying removal of trade barriers, with struggles towards common legislative policy and a single currency, the European receivables-based finance market remains fragmented and disparate. Choosing the ideal target market when wanting to expand a receivables-finance company into Europe is difficult.
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