The popularity of factoring and invoice discounting has continued to grow as industry turnover hit record levels for the third quarter running, as shown by figures from the Factors and Discounters Association (FDA). FDA members' client turnover rose to an impressive Ј34 billion in quarter three, up from Ј32.1 billion in the second quarter, an increase of 5.9 per cent. There has been an increase of 14.3 per cent in the turnover figure for the year to date compared to the same period in 2003.
Members’ client numbers are also reported to be rising steadily from 35,463 in Q3, 2003 to 37,693 at the end of Q2, 2004 to 39,273 at the end of Q3, 2004.
