It looks like factoring is starting to show its strengths. The dynamic growth that the industry recorded after Q2 2021 shows a return to normality and even an increased activity among businesses.
The 24% increase in turnover compared to Q2 2020 seems to confirm this. Entrepreneurs transferred to to factors nearly 10,000,000 invoices of a total worth of PLN 167.4 billion.
In addition, more and more entrepreneurs appreciate the advantages of a factoring agreement and also here the industry has recorded a growth - currently, nearly 21,000 companies use factoring services.
The sector breakdown of turnover remains similar, with manufacturing and distribution companies being the most important factoring clients.
The second half of the year shall be interesting - only then we will really learn what the strength of the factoring industry is. At the moment the predictions are promising.
Source: Polish Factors Association
Factoring Product Manager at Comarch