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2016, vol. 10, br. 1, str. 53-73
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Značaj i uloga faktoringa u upravljanju likvidnosti preduzeća - trendovi razvoja u Srbiji
The importance and the role of factoring in enterprise liquidity management: The development trends in Serbia
Projekat: Unapređenje konkurentnosti Srbije u procesu pristupanja Evropskoj uniji (MPNTR - 47028)
Sažetak
Osnovni cilj rada je da ukaže na značaj i ulogu faktoringa kao finansijske usluge i načina za rešavanje problema nelikvidnosti malih i srednjih preduzeća (MSP) u uslovima finansijske krize i da ukaže na trend razvoja u Srbiji. Pregledom relevantne literature o faktoringu, rad sagledava značaj i ulogu faktoringa, a kroz analizu svetskih trendova predviđa trend razvoja u Srbiji. U okviru sagledavanja značaja, razvoja i kvantificiranja ukupnih efekata faktoringa u Srbiji, koristićemo pregled i trend analizu faktoringa u 5 vodećih ekonomija Evrope, kao i aktivnosti faktoringa u kontrolnoj grupi zemalja iz okruženja, prema podacima u periodu ekonomske krize 2008-2012. godine. Definisane su projekcije rasta učešća faktoringa u bruto domaćem proizvodu na kratak, srednji i dugi rok. Empirijska analiza je pokazala da će se trend faktoringa u vodećim evropskim zemljama i kontrolnoj grupi zemalja iz okruženja preslikati i na Srbiju. Pored toga, u radu je analizirana uloga i značaj faktoringa za razvoj malih i srednjih preduzeća, gde bi veća upotreba faktoring poslova imala za rezultat rešavanje problema likvidnosti.
Abstract
The aim of the paper is to identify the importance and the role of factoring, as financial instrument, in the period of the current financial crisis, and to assess the trend of its development in Serbia, as a way to solve the problem of SMEs illiquidity. By reviewing relevant literatures on factoring and analyzing global trends, the paper predicts the trend of development for Serbia. Emphasising the importance of the development of factoring in Serbia, we will cover the overview and trends for factoring usage in the five leading economies of the Europe, as well as the activities of factoring in the control group of countries in the region, according to the data during the economic crisis of 2008-2012. We define the projections of growth of factoring as percentage of GDP in the short, medium and long term. The empirical analysis indicates that the trend of factoring in the leading European countries and a control group of countries in the region, will reflect on Serbia. In addition, the paper analyzes the role and the importance of factoring for SMEs development, where the increase the use of factoring operations would have resulted in solving the liquidity problem.
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