Financial Analytics: Science and Experience
 

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Factoring as a tool for financing of small and medium-sized business

Vol. 12, Iss. 1, MARCH 2019

Received: 3 September 2018

Received in revised form: 15 October 2018

Accepted: 10 November 2018

Available online: 28 February 2019

Subject Heading: FINANCIAL INSTRUMENTS

JEL Classification: D24, D53, G31

Pages: 57–71

https://doi.org/10.24891/fa.12.1.57

Kosov M.E. Financial University under Government of Russian Federation, Moscow, Russian Federation
kosovme@mail.ru

ORCID id: not available

Subject This paper discusses the instruments of financing small and medium-sized businesses and factoring, in particular, as one of the solutions to problems of working capital shortage.
Objectives The paper aims to investigate the factoring services market of Russia, its trends of development, participants, and the share of factoring in the financing of small and medium-sized businesses.
Methods For the study, I used the methods of synthesis and analysis, comparison, particularization, and formalization.
Results The paper presents the main tendencies in the development of the factoring services market of Russia. It also proposes certain ways to solve the problems of low growth rates of factoring market in Russia.
Conclusions and Relevance Factoring has a number of advantages that can increase the products turnover of small and medium-sized enterprises. The existence of a number of constraints negatively affects its application as a type of financing for enterprises. The results of the research can be used in the development of measures to stimulate the development of factoring in Russia as an alternative type of financing for small and medium-sized businesses.

Keywords: small and medium-sized business, turnover, financing, factoring, factoring services

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