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Factoring as an Alternative Source of Financing for Bulgarian Enterprises

Author

Listed:
  • Ivan Kostov

    (University of National and World Economy, Sofia, Bulgaria)

Abstract

The following article presents factoring as one of the alternative sources of financing for the Bulgarian enterprises. The market for factoring is developing quickly after the global financial and economic crisis affected our country, more no­ticeably after 2008. This development is basically a consequence of the sharp contraction of bank lending on a national level, forced by the bad eco­nomic conditions, increased credit risk and lim­ited access to financing. Despite the favourable environment, the data shows that for 2013 factor­ing amounts to 4 % of the GDP of the country. This is several times less compared to the share of that business in the economically developed countries as well as compared to some of the countries in the region. That’s why the publication attempts to summarize the reasons for the cur­rent state and prospectives regarding the devel­opment of factoring as alternative source to the short term bank lending of Bulgarian business

Suggested Citation

  • Ivan Kostov, 2015. "Factoring as an Alternative Source of Financing for Bulgarian Enterprises," Ikonomiceski i Sotsialni Alternativi, University of National and World Economy, Sofia, Bulgaria, issue 4, pages 86-98, December.
    • Handle: RePEc:nwe:iisabg:y:2015:i:4:p:86-98
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    File URL: http://www.unwe.bg/uploads/Alternatives/7-br4-2015-5.pdf
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    More about this item

    Keywords

    Financing; factoring; financial management; bank lending;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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