IFA Statement on National Small Business Week

May 05, 2022

WASHINGTON, D.C., May 5, 2022 – In honor of National Small Business Week, the International Franchise Association (IFA) recognized the 775,000 local franchise small businesses it represents and their commitment to creating opportunities for underserved individuals, uplifting the communities where they operate, and serving as an engine for economic growth and upward mobility.

“During National Small Business Week and every week, local franchise business owners around the country work tirelessly to serve their customers, their employees, and the communities in which they live and operate,” said Michael Layman, Senior Vice President of Government Relations and Public Affairs for the International Franchise Association. “IFA is proud of our work to advocate for policies that allow businesses to grow and thrive so they can continue to provide opportunities for those who need it most.

“Whether we are supporting helpful policies like the FTC Franchise Rule, the Paycheck Protection Program (PPP) and other Small Business Administration (SBA) loan programs or the ‘Save Local Business Act,’ or facing down policies harmful to the business model, such as the PRO Act and agency nominees who have bias against franchise business owners, IFA always works to protect, enhance, and promote franchising and the 8.2 million direct jobs it provides.”

According to recent research by Oxford Economics, one-third of franchise owners say they wouldn’t own a small business without the franchise business format. In addition, franchise small businesses drive 1.8 times higher sales than comparable non-franchise establishments, provide 2.3 times as many jobs, and pass their success on to employees in the form of higher wages and benefits and greater opportunity for advancement. Around 26% of franchises are owned by people of color, and 14% are owned by veterans. Lastly, most franchisees recruit and train local residents, source their supplies locally, and give back to local charities.

About The International Franchise Association:

Celebrating over 60 years of excellence, education, and advocacy, the International Franchise Association (IFA) 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 approximately 775,000 franchise establishments that support nearly 8.2 million direct jobs, $787.7 billion of economic output for the U.S. economy, and almost 3 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.

Contact

Press Contact

Name: Katherine Knight Patterson
Email:
kpatterson@franchise.org

Advertisement