Business + talks on numbers are more or less like gibberish to me, but it does pay to learn something new about subjects that are otherwise foreign to us + acquaint ourselves with what’s latest every so often, right? I am sharing with you, therefore, this interesting press release that I’ve stumbled upon recently. Read on…
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.
If you need help, or know of someone who does, with the growth of your SME thru fast + efficient financial solutions, you may contact Esquire through any of the following:
- visit the Esquire Financing Inc. Website
- email them at firstname.lastname@example.org
- call 0917.513.5573