| This report looks at the factoring and invoice-discounting sector in the UK. The sector is still generally referred to as 'factoring' because that is how it began — a factor took over the running of the client's sales ledger and provided the client with immediate cash — but increasingly it is focusing on invoice discounting, where the lending institution advances cash but does not manage the sales ledger for the client.
Key Note's review of the industry comes at a most interesting time. While the research for this report was being carried out, Euro Sales announced rising bad debts, and the US-based General Electric Corporation, which already has an important position in the UK factoring/discounting market, announced that it wished to buy Heller Bank, the major shareholder of one of its competitors, NMB-Heller.
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