Factoring in Italy
Italian factoring market was born in the nineteen sixties. Over 30 factoring companies operate in Italy, most of which are members of the Italian Factoring Association (Assifact).
In Italy, the role of factoring has changed considerably over the last two decades. In the nineteen seventies and eighties, factoring was basically accounts receivable financing for small and medium enterprises unable to access bank finance. Now, factoring means services for all kinds of businesses and a wide range of innovative financial solutions.
Until the end of the nineteen eighties non recourse factoring represented only a very small share of the global turnover (about 10%). Now, about 70% of the factoring transactions are non recourse.
An important feature of Italian factoring market is the high concentration (this characteristic is also common to other European markets. Particularly, in Italy is highly concentrated: the first 4 companies represent almost 70% in terms of turnover.
An important share of the market is represented by products and services dedicated to the suppliers of Public sector which tends to impose very long payment terms: 180 days on the average.
2009 - Italian factoring market:
about 90% domestic market
about 68% non recourse
about 32% recourse
total receivables outstanding: 43,999 billion euros
total financed outstanding: 33,482 billion euros
Autor: CILINO ROSA
