$1 million lent to franchises means 34 new jobs
A recent study prepared by FRANdata for the IFA Educational Foundation confirms the recession and corresponding reduction in lending have hampered the franchising industry's ability to create jobs and produce economic growth. "The new report shows that for every $1 million of lending obtained by franchise small businesses, 34 jobs are created and $3.6 million in annual economic output is realized. However, the credit crunch is constraining this potential growth and slowing economic recovery," said Matthew Shay, IFA President and CEO. This report examines factors that expand and restrict franchise growth and the impact caused by the credit crunch.
This story published in IFA SmartBrief on 06/01/2009
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