Total turnover of factoring and commercial finance in the UK 2011-2023
Factoring and commercial finance companies (Factors) provide businesses with financing to enable the company to meet day-to-day expenses including payments to suppliers, salaries, rent and rates. In Europe, the total turnover of factoring and commercial finance increased annually between 2010 and 2019, before dropping in 2020. In the United Kingdom (UK), the turnover of the factoring market has fluctuated between 2011 and 2023. The United Kingdom had the second-highest turnover in Europe in 2021, accounting for approximately 15 percent of the European market.
