According to the International Franchise Association (IFA), franchising currently
represents 18 million jobs and $2.1 trillion worth of economic activity in the U.S.
In Southeast Asia, the Philippines leads in terms of franchise concept
development. Last year, more than 124,000 franchisees offered the products and
services of over 1,100 franchisors in the country. The industry generated more
than a million jobs while recording a total of $9.45 billion output—equal to five
percent of the country’s total gross domestic product (GDP).
PFA Chairman Lim said that the recent growth can be attributed to the entry of
new players from micro, small and medium enterprises (MSMEs), the continued
rise of the business process outsourcing (BPO) industry, and the introduction of
indigenous and food concepts.
ESQUIRE Financing Inc. also recognizes the potential in funding the
development of emerging enterprises, especially now when there is positive
economic growth in the country. “MSMEs are the pillars of growth of the
Philippine economy. They will catapult economic production into greater numbers
through job development,” ESQUIRE President/CEO Rajan Uttamchandani
Learn more about how EFI can help you grow your SME with its fast and
efficient financial solutions by visiting http://esquire.com.ph