A Well-Oiled Machine Won’t Stop. Summary of Factoring in Poland 2021

Another year of challenges in the factoring industry is behind us. 2020 was marked with the pandemic, but in 2021, we discovered that a well-thought-through strategy might just be able to restore decent growth. Let’s have a look at the numbers shared by the Polish Factors Association.

In Poland, over 26 thousand companies benefit from factoring services. A 41% increase points to the fact that factoring is becoming more and more popular not only among entrepreneurs, but also financial institutions, which have recently started to prefer this type of financing. While making predictions about future possibilities, we should get used to such numbers. What’s more, traditional factors are expanding their cooperation with micro-companies on a wider scale, which until now has been the domain of fintechs.

The turnovers of companies affiliated with PFA have grown by almost 26% and a total amount of 362.4 billion PLN.

What should be added here is that these increases are also the result of the partnership with Bank Gospodarstwa Krajowego. BGK’s guarantees have increased the flexibility of factors in granting limits for new clients.

In 2022, the industry will definitely note some interesting results, depending on a few conditions. What seems to be key are the ongoing cooperation with BGK and the continuous education of entrepreneurs who might have not yet considered factoring services as an option.

Source of data: Faktoring.pl