Externally, the growth of developed economies could weaken more, with negative effects on emerging economies and Chile. Carlos Baudrand Saavedra General Manager
China UPG Group
Small and medium-sized enterprises (SMEs) all over the world always face the difficulty of financing. For those in Zhejiang Province of China where 99% of enterprises are SMEs, it has become an even harder task.
Columbia Factor Group Corporation Factor Group is an organisation exclusively dedicated to factoring and has come to be known as Colombia’s most specialised financial services company as well as a rapidly growing presence in the US marketplace. Founded in 2003, it has obtained an unprecedented level of success by developing sophisticated factoring solutions for its clients. With over 120 employees and three locations in the United States and Latin America, Factor Group is on track to reach $400m in transaction volume for 2010. An impressive 300% growth in the last three years has been accomplished by following sound principals evidenced by 0.5% of write- offs on over $1bn in underwritten assets to date.
Mr Chen UPG Group, currently with a registered
capital of 417 million, started operations in 2006, specialising in solving the financing problems for SMEs. Through innovative ideas and methodologies, UPG has integrated diverse financial resources and co-operated with different parties such as banks and trust companies. We have put forward the new modes of bridge tunnel and road channel, and already have had experience in helping Chinese SMEs get finance. The regional economic situation has been improved this year. UPG has now put emphasis on organisational structure adjustment and talent pool construction. We now have over 150 employees. In this year we aim to gain 160 million in total income and 68 million in profits, both increasing by 150%, which is realisable in consideration of up to date financial data. UPG has been dedicated to becoming a reliable and valuable financial service provider integrating advanced financial service techniques. As a new member of IFG, UPG will make use of this new scope to explore more possibilities in SMEs financing world. Mr Chen Chairman
82 November/December 2010
Factor Group has rapidly become a leading player in both the US and Latin American markets. Its proprietary electronic factoring platform offers clients a robust accounts receivable marketplace that has grown automated transaction volume by 257% in the last two years. 2011 will allow Factor Group to
expand its US operations and increase the overall market share in the Colombian and Latin American markets. The continued commitment to improvement and a highly qualified management team who is constantly in tune with the markets needs has allowed Factor Group to create a bright future for itself by providing innovative solutions for the factoring industry.
David Wigoda President
Czech Republic
Bibby Financial Services, a.s. Bibby Financial Services, a.s., is part of the Bibby Financial Services Group.
As the biggest non-bank factoring company in the Czech market we offer a full range of recourse and non-recourse factoring, export and import factoring, confidential and reverse factoring solutions, as well as bad debt collection to SMEs and corporate customers. Operating in our headquarters in Brno and with our newly open office in Prague our team of 30 motivated professionals are supporting our clients across the whole country. Despite the challenging economic environment we are operating in we are proud to have remained open for business
Business Money
Michal Gabriel
and redoubled our efforts to support our clients through difficult times. We have focused on the small and medium-sized clients since 2009 carefully balancing the rising demand for our services in the SME sector with the sad predicament of increasing business failures. We expect to increase our new clients’
base by 25% in 2010 compared to 2009, as well as increase market share. Our strategy is strongly supported by a growing market demand, high quality professional team and newly designed internal processes that were fully implemented as a key internal project of 2010. The Czech Association of Factoring Companies (AFS-CR) announced debts factored of CZK 50.26bn in the first half of 2010, an increase of 14.2% compared to the first half of 2009. The growth is supported mainly by the recovery of the automotive industry. The leading product in the Czech market was recourse factoring (75.7%), non- recourse factoring reached 24.3% in the first half of 2010. Share of domestic factoring has been 77.2%, followed by export factoring 20.8%, and share of import factoring 2%, in first half of 2010. CZK 15.67bn funding was provided by member companies CLFA clients at 30 June 2010. The international financial crisis has caused serious effects to the stability of the world economy, with a strong impact on the export focused Czech economy. The Czech economy in 2009 declined by 1.6%, the year 2010 predicted growth (+1.2%). The decrease is due to a reduction in industrial production followed by a slowdown in consumption growth. In particular the Czech manufacturing sector is highly dependent on car production and construction, both industries having
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