1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136 
Factors help in expansion plans
Page 8
If you've noticed an error in this article please click here to report it so we can fix it.
• Using a factoring company to collect debts increases hauliers ability to expand, says a major factoring specialist.
International Factors says its 150 haulage clients increased their turnover by 22.47% in the six months to June 1996, compared with the 7% annual growth Cambridge Econometrics predicts for the haulage industry as a whole.
"It is effective for haulage companies who may have previously found overdrafts somewhat restrictive," says a spokesman.
He claims factoring suits hauliers because they suffer cashflow problems and because their profitability is so dependent on controlling costs.
Hauliers are forced to wait an average of 73 days to be paid, he adds, while factoring would release 85% of an invoice's value within two days: "We usually cut the creditor days figure down by at least two weeks. The remainder of the invoice value less the factor's charges is passed on to hauliers over a pre-agreed period."