Finland

Juha Harden, Product Manager at Nordea Finance in Finland, provides Factorscan with an overview of the Finnish factoring market covering industry environment, market performance, supply and future trends.

IFRS has forced larger companies to shift receivables off their balance sheet, and SMEs are eager to outsource  management of their sales ledger and realise value in their invoices.

The Finnish Government has allocated total financing of €132 million for development of the activities of small- and medium-sized enterprises (SMEs) in 2006. The financing also includes

Introduction

Market Performance and Supply

The Finnish Confederation of Industry and Employers, TT, said its index measuring the business cycle outlook for small- and medium-sized companies rose to 26 points in July from 20 in April, its highest level since 2000.

Finns are now as confident in their own economic situation as they were at the peak of the economic boom in February 2000.

According to the Bank of Finland, global economic growth has picked up, with the US and Asia in particular exhibiting robust growth.

Finnish exports made an upwards turn in September after a six-month period of dormancy and decline. According to monthly figures issued by the Board of Customs, exports grew by 7 per cent year-on-year in September to a total of Ђ4,100 million.