Total turnover of factoring and commercial finance in European Union 2010-2021
Factoring and commercial finance companies provide businesses with financing to enable companies to meet day-to-day expenses including payments to suppliers, salaries, rent and rates. In the European Union (EU), the total turnover of factoring and commercial finance has increased annually between 2010 and 2019, before dropping in 2020. In 2020, the total turnover amounted to approximately 1.78 trillion euros, a decrease of about 125 million euros from the previous year.
