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RELEASE The latest statistics from the Institute for Factors and Discounters show how Australian businesses are now coming more in-line with overseas trends in taking advantage of debtor financing. The March quarter 2005 figures show the value of the total factoring and discounting service as well as business users show impressive growth. The annualised growth rate of 28 percent continues, which has now been consistent for ten years. This large increase was equally shared among states with Victoria 35 percent, NSW 32 percent, Queensland 18 percent, Western Australia 8 percent and South Australia with Northern Territory 7 percent. Over 4000 business in Australia now use debtor finance. Commenting on the statistics, Oxford Funding’s Rob Lamers says "All graphs in this industry continue to trend very strongly in the one direction. This big upturn is because Debtor Financing offers small to medium sized enterprises the opportunity to accelerate their cash flow by providing a flexible line of credit linked to the level of the businesses accounts receivables. "Just like in the USA and Europe, debtor finance is increasingly replacing less flexible options like the overdraft. The number of businesses using debtor finance has increased significantly over the past 10 years in Australia with industry turnover increasing from $3b to $30b per annum. "And Oxford Funding is leading the charge in this growth. We’ve based our business on continually releasing innovative products that have met with great success." Debtor finance has become considered because it is suited to businesses that require additional working capital for specific reasons, which include:
ENDS Contact Oxford
Funding on 1800 850 509 or www.oxfordfunding.com.au |
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