New figures released today from the Asset Based Finance Association (ABFA) show that firms which use invoice finance are enjoying continued strong growth in their sales, up 13% to year end 2011. Total client turnover in 2011 for companies using invoice finance has reached £238bn with total sales from this quarter alone now standing at £62bn. This continues the year long trend of firms which use invoice finance seeing an expanding sales base and trading successfully.
Larger companies are increasingly choosing to use invoice finance too. The number of members' clients with turnover above £10million in the past year has risen from 3,126 in 2010 to 3,535 in 2011, a growth of 13%. This quarter the average client turnover has also risen, reaching £5.7 million, up by 13% on this time last year.