MPs discuss economic impact of franchising

At a recent meeting held at the Houses of Parliament, franchise sector leaders met with 30 MPs from the UK to discuss the economic impact of franchising through sustainable business growth, new business start-ups and job creation.

The meeting was organised by the BFA with the support of Caroline Dinenage, MP for Gosport.

Brian Smart, BFA director-general said: “Franchising has developed into an important industry encompassing small operations run from home, through to large retail outlets, professional services and even international hotel chains. Its stability and success rate mean that it can provide an ideal route for many to start their own business and take control of their future.”

Delighted by the positive response from MPs, Smart added: “ There is a real hunger by our MPs to capitalise on what is a sustainable, proven and low risk option for many. Our goal now is to work with our MPs to help open up information and advice to many more people that may at the moment be struggling to know where to turn.”

Caroline Dinenage said she too was delighted that the event was able to highlight the economic importance of franchising to so many MPs. “With significantly better success rates than other businesses, the franchise industry is key to promoting job creation, economic growth and an entrepreneurial culture. MPs will now be in a position to encourage this fantastic business model in their own constituencies,” she added.

The BFA is now looking to establish an environment with MPs from across the UK to build a regular two-way exchange of ideas, education, advice and support.

Pictured from left: Sir Bernard Ingham (president of the BFA), Caroline Dinenage MP, Michael Eyre (chairman of the BFA) and Brian Smart.