Contact: Jenna Weisbord, 310-995-0839
IFA Commends Officials’ Call for Additional Census Research Data to Spur Business Ownership
(WASHINGTON, FEB. 27) – The International Franchise Association (IFA) today praised a bipartisan group of 58 Members of Congress who are calling on the Census Bureau to collect more frequent data on franchise ownership among women and minorities as a part of a push to promote business ownership.
The most recent Census data shows that 30.8% of franchise businesses are minority owned, compared to just 18.8% of non-franchised businesses. Unfortunately, this data was last collected in 2012, and new information is needed to better help policymakers promote minority business ownership.
Led by Reps. Alma Adams (D-N.C.) and Richard Hudson (R-N.C.), the letter states, “More recent and frequently-provided information could be used to help policymakers as we work to promote economic growth among underserved communities. In addition, this data could help show the success rate and ownership rate for minority and women franchise owners as they seek access to capital to start or expand their business.”
“The percentage of women and minority owned businesses has increased by 50% over the last decade. In my district alone, roughly 600 of the 2,000 franchise businesses are women- and minority-owned. In fact, franchises in the 12th District represent 42,300 jobs and $1.8 billion in wages. That is why I am pushing for the Census Bureau to conduct more frequent research and data collection on women and minority owned small businesses,” said Congresswoman Adams.
“Proper data and research will allow us to better serve these businesses, ensuring they have the tools and resources they need to not only survive, but to thrive. I applaud my colleagues for joining me in this push, and I remain committed to fighting for North Carolina’s small businesses and economy,” she said.
“The additional data we are asking the Census Bureau to collect in their existing survey would help provide critical information to better serve women and minority-owned businesses. I was proud to work with Rep. Adams on this letter and I am looking forward to seeing the results,” said Rep. Hudson.
“Franchising has long been a pathway to prosperity for minorities, women, and those from historically underserved backgrounds. With better data collection and understanding of ownership trends, Congress and businesses can work together to make business ownership a reality for even more Americans,” said IFA Senior Vice President of Government Relations and Public Affairs Matt Haller. “The franchise community is grateful for the leadership of Reps. Adams, Hudson, and many other Members of Congress for their work to encourage and develop minority business ownership.”
According to the Census, nearly 226,000 franchise small businesses are minority-owned. In total, America’s 733,000 franchise businesses employ nearly 8 million Americans and contribute more than $400 billion to U.S. GDP.
Celebrating 56 years of excellence, education, and advocacy, the International Franchise Association is the world's oldest and largest organization representing franchising worldwide. IFA works through its government relations and public policy, media relations and educational programs to protect, enhance and promote franchising and the more than 733,000 franchise establishments that support nearly 7.6 million direct jobs, $674.3 billion of economic output for the U.S. economy and 2.5 percent of the Gross Domestic Product (GDP). IFA members include franchise companies in over 300 different business format categories, individual franchisees, and companies that support the industry in marketing, law, technology and business development.