| Bad debt protection on the rise |
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According to the Asset Based Finance Association (ABFA), the number of firms taking out bad debt protection increased in 2010. ABFA says that the number of firms using non-recourse factoring in 2010 increased by 20% from 20,075 in 2009 to 24,016 in 2010. This demonstrates what a key concern late payment is having on UK firms, especially considering the disadvantages of debt factoring which can include: cost, influence over your business, customer relations and liability (with regards to recourse factoring). |
