EU Federation for the Factoring and Commercial Finance Industry

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EUF Newsletter Spring Edition is out

The Spring edition of the newsletter is available for download. The newsletter comprises:

  • Welcome by EUF Chairperson, Françoise Palle-Guillabert
  • Report of the Legal Committee on 2019
  • Preliminary 2019 figures – A sustained upward trend
  • Report from the Prudential Risk Committee
  • The EU Commission SCF Study by Magdalena Wessel, Chairwoman of the Legal Committee
  • Factoring in the time of COVID-19 Diego Tavecchia, Chairman of the PRC Committee

Building Bridges between Finance and SMEs

SAVE THE DATE: 13 October 2020

Corporate funding, in particular SMEs financing opportunities, has been a major topic of the EU public debate since the 2008/2009 financial crisis.

As one of its top priorities, this issue deals with many aspects of EU policies and goes beyond finance-only regulation.

On 13 October, European Parliament, European Commission, Financial industry and SME's and company representatives will gather at the European Parliament to discuss on financing issues SMEs can meet and the answers European policy-makers and the financial industry can provide. Due to the situation, the event will also be broadcasted on live.
 
In order to give the best possible insights from the “real economy” actors, the workshop will give a significant tribune to SMEs and company executives from different European countries.

In front of some of the most relevant EU policy-makers and industry representatives, they will be able to voice their “day-to-day” concrete issues and pressing concerns in a significant – and differentiated – way.

Chaired by : Stéphanie YON-COURTIN, Member of the European Parliament, Vice-chairman of the ECON Committee

Registration: https://docs.google.com/forms/d/e/1FAIpQLSdQhdmWkCRjrqhbtR4W6NVRIGOhX5VHSvTl4Dmpz8nD78_Ujw/viewform

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Factoring and Commercial Finance continues to grow

Factoring and Commercial Finance continues to grow - A mechanism for real economy support in the EU

The data collated by the EU Federation for the Factoring and Commercial Finance Industry (EUF) shows that in 2019 factoring and commercial finance volumes in the EU grew overall by 7.9% to reach €1.91 Trillion. As before, 80% of this represented domestic business and the balance international.

This rate of growth – which equaled that seen in 2018 - again clearly outpaces the increase in GDP in Europe and continues to demonstrate the increasingly vital role factoring and commercial finance is playing in developing the real economy, providing principally SME businesses with much needed working capital.

Funding of €275Bn is supporting around 280,000 European businesses, helping them deliver real growth, real employment and demonstrable business success.

With factoring and commercial finance now representing around 11.3% of EU GDP, this is an increasingly powerful and important contribution to EU economic development.

Mme Françoise Palle-Guillabert, Chairman of the EUF, noted: "Our members report yet another year of sustained and impressive growth in our Industry. It yet again confirms the very important role we play in supporting the real economy right across the European Community. For us as providers, it is very rewarding to see our efforts are translating into such a benefit for EU business. It again reinforces the message to our legislators and regulators that this Industry has a key role to play in enabling European wealth creation. This is particularly important in the current unprecedented Covid-19 pandemic. European Factors will give particular attention in the coming months to the needs of businesses, from micro to SME, from merchant to large corporate, all of which are exposed to the consequences of this exceptional health crisis.”

ENDS 07.04.2020

Notes to Editors

The EUF is the Representative Body for the Factoring and Commercial Finance Industry in the EU. It comprises national and international industry associations that are active in the region. Its members represent 97% of the Industry turnover.

The EUF seeks to engage with Government and legislators to enhance the availability of finance to business, with a particular emphasis on the SME community. The EUF acts as a platform between the Factoring and Commercial Finance Industry and key legislative decision makers across Europe, bringing together national experts to speak with one voice.

Data has been adjusted to ensure that currency exchange rate fluctuations do not distort the results.

EUF Statistics

Françoise Palle-Guillabert is re-elected as chair of the EUF

Mme Françoise Palle-Guillabert, Director General of the French Association of Specialised Finance Companies (ASF), has been re-elected as Chair of the EU Federation for a second term following a vote by the EUF’s Executive Committee which met on March 30th 2020. Her reconfirmed mandate takes effect immediately for a further period of 2 years.  

Françoise Palle-Guillabert received a French Master’s degree in Law and a Master in Public Affairs from the Institut d’Études Politiques in Paris. Since October 2008, Françoise Palle-Guillabert has been the Director General of the French Association of Specialised Finance Companies (ASF). She has been a board member of The EU Federation since 2009.

At the same meeting, the EUF Executive Committee also re-elected Fausto Galmarini of Assifact (Italy) as a Vice Chair, and elected Magdalena Wessel of DFV (Germany) as a Vice Chair, further cementing and strengthening a highly knowledgeable and experienced leadership team for the Organisation.

Mme Palle-Guillabert stated “I am delighted and honoured to have been re-elected to continue this important role of leading the EUF; the Factoring and Commercial Finance Industry has a key part to play in supporting economic growth, employment and wealth creation in Europe.  In the current unprecedented Covid-19 pandemic, European Factors will give particular attention in the coming months to the needs of businesses, from micro to SME, from merchant to large corporate, all of which are exposed to the consequences of this exceptional health crisis. We work to reinforce this message with our regulators and lawmakers and to ensure that as providers we can continue to deliver our services for the benefit of all.

ENDS 07.04.2020

Notes to Editors

The EUF is the Representative Body for the Factoring and Commercial Finance Industry in the EU. It comprises national and international industry associations that are active in the region. The EUF seeks to engage with Government and legislators to enhance the availability of finance to business, with a particular emphasis on the SME community. The EUF acts as a platform between the Factoring and Commercial Finance Industry and key legislative decision makers across Europe, bringing together national experts to speak with one voice.

For more information, see our website: www.euf.eu.com

Contact:  This email address is being protected from spambots. You need JavaScript enabled to view it.     This email address is being protected from spambots. You need JavaScript enabled to view it.

f p guillabert situ 030  Maggie Wessel  fausto galmarini

 

EUF message: Covid-19 pandemic

In the current unprecedented Covid-19 pandemic, the European Factoring Industry confirms its complete commitment both to protect its people and to give full support to its clients whose activities have been so dramatically affected.

European Factors will give particular attention to the needs of businesses, from micro to SME, from merchant to large corporate, all of which are exposed to the consequences of this exceptional health crisis.

The EU Federation itself will be in close contact with the European Economic Authorities in order to monitor, review and seek appropriate support solutions for business.

We wish everyone well at this very difficult time.

 

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