Industry Analysis & Industry Trends
The Debt Collection industry typically thrives when the economy is weak, as this leads to households defaulting on loans and a rise in business bankruptcies. However, the global financial crisis did not lead to a significant surge in debt collecting services. This reflects efforts by households and businesses to pay down debt and boost savings, and the tightening of lending practices, which resulted in better loans with less likelihood of defaulting. The four largest debt-collecting firms are estimated to account for less than 30.0% of industry revenue in 2014-15, as the industry contains many small-scale businesses... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Debt Collection industry is in the growth stage of its economic life cycle. The industry is characterised by rapid growth, increasing technological change due to the way debt collectors assess and collect, wholehearted market acceptance and some new players entering the market despite consolidation. Industry value added (IVA), used to measure an industry's contribution to the overall economy, is projected to increase by an annualised 5.4% over the 10 years through 2019-20. This is higher than the projected growth in the overall economy of 2.7% annualised over the same years, and reflecting the outsourcing of debt recovery by large and small businesses.
The number of industry enterprises is growing slowly as the industry is beginning to consolidate... purchase to read more