EUF – European Multi-Stakeholder Forum on Electronic Invoicing (eInvoicing)
EUF is pleased to announce that Mr. Andrzej Zbikowski, Executive member EUF, has been selected as a member of the European Multi-Stakeholder Forum on eInvoicing (EMSFeI). The EMSEeI plays a distinctive role in adoption of eInvoicing at National and EU-level according to the directive and the European standard on eInvoicing developed by the European Committee for Standardisation (CEN).
The tasks of the Forum are to provide the Commission with high quality legal, economic, technical and/or practical insights and expertise with a view to assisting it in shaping the eInvoicing in the European Union.
Congratulations Mr. Zbikowski !
Press Release 2017 half year’s figures – European factoring market accelerates
2017 half year’s figures – European factoring market accelerates
The EU Federation for Factoring and Commercial Finance recently collated the first half year’s turnover results for EU factoring market. Responding countries represented 97% of the European factoring market.
Factoring turnover in the first half of 2017 for EU countries exceeded 776 billion euro, an outstanding year on year increase of 9%.
Accordingly, 2017 is shaping up to be the 8th year of constant, continuous growth in factoring turnover, confirming that factoring is now perceived by companies as one of their main sources of funding.
In the same period of 2016, year on year increase was 3,14%, so this year’s higher value suggests that final turnover growth for 2017 will be significantly higher than that experienced in 2016 and could even exceed 15%, a figure that would be more than twice the market’s 5 years’ average compound annual growth rate.
This year’s GDP penetration ratio was higher than the last year’s (10,4% comparing to 9,6% in first half of 2016), and there were wide variations between countries.
The high level of concentration shown by the EU factoring market remained unchanged.
In conclusion, data collected by the EU Federation for the first half of 2017 shows that factoring is developing much faster than the EU economy and this is because it is becoming a recognized source of financing for companies. Moreover, there is a growing interest in non-recourse factoring, which apart from financing, also provides credit cover against the risk of debtor's insolvency. The combination of these two main features is being seen by companies as a key element in supporting their sustainable development.
Now available - EUF Yearbook 2016-2017
The EUF is delighted to announce that it has published its second Yearbook covering the period 2016-2017.
In it you will find a wealth of information about the EUF, its work and achievements:
- The Year in Review
It’s been a period of development and change for the Industry and its outlook. Erik Timmermans, Chairman EUF and Francoise Palle-Guillabert, Vice Chairman EUF share their views and observations with John Brehcist, EUF Coordinator
- Timeline 2016-2017
We look at what’s been happening in the EUF and the impact of its activities
Amongst all the programmes we focus on a couple of the headline events, the 3rd Factoring Summit and the Annual Meeting
- Statistics Summary
Here we share our focus on the Industry statistics; size, shape and economic impact
- Our Members
The members of the EUF and their contact details
- Meet the Executive Committee
The members of the EUF and their contact details
- Meet the Operational Committees
The members of the EUF’s operations committees and their contact details
The Yearbook is available to download from here:
EUF - LEASEUROPE Position Paper on Insolvency Directive COM-2016-0723
Joint Position Paper sent by EUF and Leaseurope on common rules for Insolvency
Factoring and Commercial Finance grows again, supporting economic expansion in the EU
Final analysis of data collated by the EU Federation for the Factoring and Commercial Finance Industry (EUF) shows that factoring and commercial finance volumes in the EU grew overall in 2016 by 6.2% to €1.5 Trillion.
This rate of growth clearly outpaces the increase in GDP in Europe and again demonstrates the vital role factoring and commercial finance is playing in developing the real economy, providing principally SME businesses with much needed working capital. This success story is about real growth, real employment and demonstrable business success in supporting the ongoing recovery.
Around €200Bn of funding is supporting around 180,000 European businesses.
With factoring and commercial finance now representing around 10.4% of EU GDP, this is a powerful and important contribution to EU economic development and success.
Erik Timmermans, Chairman of the EUF, noted: "The continued growth in our Industry demonstrates again the vitally important role it plays in supporting the real economy in Europe. It’s great news for the Industry to be able to support so many European businesses in their development. It’s again critical that legislators and regulators recognize this Industry is a key contributer to wealth creation in Europe.”
Please find the Press release with turnover volumes by country here: