Once again, Q1 2022 has shown that factoring is becoming an increasingly desirable product on the Polish financial services market. Factors affiliated with the Polish Factors Association have financed 5.5 million invoices, while handling almost 21,000 entrepreneurs.
Compared to the same period last year, turnover increased by almost a third.
What hasn’t changed is the structure of companies using factoring services. They are mostly production companies, accounting for almost 50% of the factoring clients. Nearly 34% are goods and product distributors. What is interesting here, are the specifics of the issued invoices – long terms and high amounts of payments.
Several aspects contributed to such good results:
- Termination of entrepreneurs’ programs / aid shields,
and war, unfortunately. Wanting to secure funds, clients have been using this form of financing more willingly.
By observing the data for Q1 2022, it’s safe to say that the whole year 2022 should be record for the industry, which is certainly gratifying. The growing awareness of the end clients, greater factors’ flexibility, faster limit allocation processes – more and more online – and the possibility of assuming the risk of contractor’s insolvency show that factoring is going to be the preferable form of financing, not only to the financial institutions, but also the end clients, i.e. the entrepreneurs.