SAINT PETERSBURG, Fla. (July 28, 2020) – Newly published data confirms that the United States’ total factoring volume declined by nearly eight percent according to 2019 data in BCR’s World Factoring Yearbook, authored by Chief Marketing Officer Mark Mandula and Communications Specialist Alina Hall of United Capital Funding, a B2B/B2G commercial finance firm headquartered in St. Petersburg, Florida.
This is the 24th edition of the World Factoring Yearbook, which continues to be regarded as the authoritative source for factoring data and trend analysis globally. The publication highlights developments in the factoring industry including growth trends across Europe, Asia, North and South America, and Africa. The Yearbook also includes a comprehensive overview of the performance and trends seen in the American factoring industry. The factoring industry in the United States has seen a continual decline in volume since 2015, according to data in the Yearbook.
“For 2020, firms in the industry were cautiously optimistic despite the historical declines of the past several years,” said Mandula. “A small increase was expected, but the current COVID-19 pandemic has many commercial finance firms now reporting a negative overall outlook for 2020 and into 2021.”
According to the Yearbook data, nearly 80% of countries where factoring is utilized by SMEs reported growth in overall factoring volume, with the European Union, Asia, and South America having the strongest growth. As has been the case over the past decade, factoring was again highly resilient and exceeded volume expectations in the EU/Europe.
The World Factoring Yearbook 2020 shows the key developments in the factoring industry today, including:
- Strong growth across Europe and South America
- Renewed growth in international factoring
- Wide variations in market structures and client base
- The evolution of digital platforms in Asia and South America
- Non-recourse factoring growing in Eastern Europe
- Uncertain outlook for factoring globally in the wake of COVID-19
Plus timely, thought-provoking articles:
- Risk mitigation following COVID-19
- Sustainable finance: building sustainability, ensuring the future
- The importance of supply chain finance in times of crisis
Technology in receivables and supply chain finance: looking ahead
- Technology and Fraud in the ‘new normal’
- Blockchain: challenges and opportunities
- Factoring as an alternative tool for financing SMEs in Africa
This publication can be purchased here and is updated globally on an annual basis by BCR Publishing, based in London.
About United Capital Funding Group, LLC.
United Capital Funding Group, LLC. (UCF) is one of the nation’s leading providers of B2B and B2G working capital funding having collateralized Accounts Receivables from most Fortune 500 companies, governments and other non-profit entities.
For more than 20 years, UCF has provided professional working capital, Accounts Receivable funding, credit insurance coverage and efficient Accounts receivable management services to SMEs nationwide. UCF has headquarters in Florida, and also has offices in Tennessee and Illinois. UCF is a subsidiary of Gulf Coast Bank & Trust Company, a FDIC-insured Commercial Bank. For more information, please visit www.ucfunding.com
BCR Publishing is the world’s leading knowledge provider in receivables finance. BCR creates and deliver news, expert articles, in depth market intelligence data and events covering factoring and invoice discounting, Supply Chain Finance, working capital management, and trade receivables securitization.
BCR’s clients and partners include most of the leading commercial banks, factors, invoice discounters, corporates, investors, AltFin platforms, credit insurers, law firms, brokers and consultants, and also the main industry trade bodies.
For more information please visit http://www.bcrpub.com