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Receivables finance has continued to grow, highlighting an improvement in business conditions for small to medium enterprise (SMEs).
Receivables finance lifted two per cent in the September quarter, according to the Institute for Factors and Discounters (IFD).
The September quarter figure was almost $16 billion, up from $15.6 billion in the June quarter, although down by 6.8 per cent on the previous September quarter, according to statistics released by the IFD.
IFD's incoming chairman, Rob Grady,who currently the head of receivables finance at UK-based bank, HSBC, said he expected the industry growth to continue.
"The receivables finance industry continues to show good growth, which we expect to continue as the economy recovers and as businesses see an increase in sales and corresponding debtor levels," Mr Grady said.
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