Small Business Reading Room

Thursday, August 03, 2006

Study finds nation's franchising sector is booming

Research conducted by the International Franchise Association (IFA) and franchising research firm FRANdata indicates that both new franchises and established franchises are growing in record numbers. Entrepreneurs and baby boomers are credited with leading the charge.

This is a good thing, considering that according to SBA Office of Advocacy statistics, small businesses are extremely important to the US Economy.

Small firms:

  • Represent 99.7 percent of all employer firms.

  • Employ half of all private sector employees.

  • Pay more than 45 percent of total U.S. private payroll.

  • Have generated 60 to 80 percent of net new jobs annually over the last decade.

  • Create more than 50 percent of nonfarm private gross domestic product (GDP).

The Office of Advocacy defines a small business for research purposes as an independent business having fewer than 500 employees.


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