FACTORING IN THE UK – TENTH EDITION (2005)
INDUSTRY PERFORMANCE AND SUPPLY
In the UK, the factoring industry continues to grow and to be increasingly competitive. However, as the market matures, some factors are now finding the environment far more challenging. The market has also become polarised with invoice discounting now growing at a much faster rate than full factoring, which has almost stagnated.
PRIMARY RESULTS
The Factors and Discounters Association (FDA), whose members account for around 97% of the UK factoring market, recorded a total factored volume in the UK of Ј116.77bn in 2003, 12.13% increase over 2002 (Ј104.14bn). By December 2004 total factored volume had reached Ј132.4bn, on a 13.4% increase over 2003.
