The central theme of this year’s Presidential election is the need to create and sustain jobs. Currently, un-employment rate in the U.S. is very high – 8.1 percent. Millions of Americans are still underemployed or have stopped searching for work.
Recent reports of business lending slowing down have forced Americans to believe that the economy has become worse. Certainly, uncertainty looms at large and prevails everywhere starting from Wall Street to Main Street. Employers are left in a dilemma and really do not know what the next few months shall mean to them.
But, in-spite of all these hard-end reports and persistent economic woes, there is a consensus among political parties that to turn around the economy, small business sector need to be strengthened. Also, franchising has immense potential for economic growth.
Franchising is an innovative business model and it encourages new business growth. It works because franchising functions on structured and scalable formulae. Franchisors make it possible for entrepreneurs to invest in trademarks, business systems and in branded businesses independently. In return, the franchisor gets an initial fee from the franchisee. So, the overall operational support gets enhanced and the business can sustain during difficult times. So, franchising opens scope for small businesses to spurt.
Currently, in the U.S., there are 825,000 franchise establishments in 300 business lines. It is because of their presence that 18 million Americans could be employed and one out of eight U.S. private sector jobs could be filled in. Franchises are known to create jobs in every congressional district across America.
This article was submitted by Raj Tulshan, Director of Business Development of Biz2Credit. Biz2Credit is a small business marketplace that connects entrepreneurs with financing options and advice to grow their business. Send all questions to email@example.com