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
stated.
Learn more about how EFI can help you grow your SME with its
fast and
efficient financial solutions by visiting
http://esquire.com.ph
-- Alice
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