Ireland drives huge factoring growth

Throughout the financial crisis when regular banking overdrafts and loans were difficult to get, many businesses turned to factoring and invoice discounting as a means of getting cash flowing from their domestic and export sales.

However, in moving to factoring, these businesses found a very valuable resource which they have continued to increasingly use.

This is reflected in the statistics released by the EU Federation for the Factoring and Commercial Finance Industry, showing that volumes in Ireland increased by 20% in 2014, three times the EU rate of growth.