The latest statistics for debtors finance in the June 2013 quarter, released by the Debtor & Invoice Finance Association (DIFA) was $15.4 billion, which is an increase of 5.7% in comparison to the March 2013 quarter.
As Small to Medium Enterprises in Australia, continue to experience challenging business environments, debtors finance to free up working capital, provides an alternative source of cash flow to meet sales demand, and operational expenses.
DIFA Chairman, Mr. Lee Clarke said “We continue to see Australian businesses take advantages of the benefits afforded through debtors finance and this trend is set to continue as SMEs becomes more familiar with this means to leverage their books to enhance cash flow”.
NSW & ACT, followed by VIC, QLD, & WA were states with the highest factoring turnover, in the June 2013 quarter.
Industries with the highest percentage of factoring turnover includes Labour Hire making up 35%, Wholesale Trade 15%, Manufacturing 12% and Transport & Storage 12%.
By factoring, you can get cash for unpaid invoices in as quick as 24 hours and cover the gap of late payments, meet operating expenses and grow.
The full DIFA Statistical Update- June Quarter 2013 is available at:
Contact us at Key Factors, on 1300 884 100 and a local state manager will be more than happy to discuss your needs and provide you with a quote to suit your requirements today.