FACTORING AS AN ALTERNATIVE SOURCE OF FINANCING

AN EFFICIENT SOLUTION FOR RECEIVABLE COLLECTION PRESENTED IN RPK KRALJEVO OJ ČACAK

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– The presentation was organized within the framework of the USAID regional project for encouraging the growth and development of small and medium-sized enterprises in the territory of the Western Balkans. The goal of this project, which will be implemented from 2020, is to improve access to financing sources for small and medium-sized enterprises. We are talking about two main approaches, the first one is classical, mainly banking sources of financing, and the second is alternative sources of financing, among which Factoring occupies an important place. In partnership with the Belgrade company “Peterhof”, we managed to develop the Digital Factoring platform, which is already successfully operating. On this occasion, a presentation was organized to present the services of this agency to potential clients, that is, small and medium-sized enterprises from Čačak – said Dragana Todosijević, manager of the USAID regional project.

Factoring is a financial service of buying and selling, receivables between legal entities. It is an alternative source of financing, i.e., a way for small and medium-sized enterprises, which generally do not have access to banks or access to them is difficult, to obtain liquid funds, explains Ana Vićić, Partner in “Peterhof Faktoring” and adds:

– Little is known about factoring and little is used in Serbia. Our goal is to explain to users that, in addition to banks, they can obtain liquid funds, sell their receivables, collect their receivables in advance and in this way ensure liquidity, and therefore business in Serbia.

Lack of funds and illiquidity due to short-term or long-term non-payments can lead certain companies into big problems. This is precisely why it is necessary for companies to be familiar with the possibilities of debt collection, i.e., alternative sources of financing, says Gorana Tanasković, head of the RPK Moravica and Raška administrative districts of OJ Čačak.

– Companies from our environment may have problems with the collection of receivables. But the global economic crisis, the situation in Ukraine, as well as in the Middle East, can also lead to problems in the collection of claims. This is precisely why the Chamber of Commerce advises businessmen to consider factoring as an alternative payment method, that is, redirecting claims to financial institutions, of course for a certain compensation. We always advise businessmen to evaluate what they gain and what they lose, how much is the compensation for factoring services, and how much they can lose from total non-payment. And even short-term insolvency can lead to certain problems in business – notes Gorana Tanasković.

N. R.