More businesses are turning to invoice discounting to assist their export drive into Europe finds the latest Factors & Discounters Association (FDA) figures. While domestic services remain strong, export invoice discounting has grown at a startling 31% compared with a year earlier – further demonstrating that export invoice discounting has seen their most rapid growth in client services over the last five years.
The figures also demonstrated that larger businesses are turning to invoice finance – with a dramatic increase of 51 % from the first quarter 2001 shown within companies with sales in excess of Ј10 million.
The invoice finance sector as a whole has also continued to experience strong growth, with increased funds provided by clients up by 15% to over Ј7 billion compared with a year earlier.
