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Written by: Nick Strong

Article Overview: How the UK franchise sector is being affected by the economic slowdown

Franchise Blog

Franchise development is still strong in the UK in spit of the economic downturn. In fact Brian Smart, director general of the British Franchise Association (bfa), said: "The 2008 NatWest/bfa survey, published at the start of the year, showed that the number of franchise networks had increased year on year for the last 15 years and in 2007 saw its economic contribution grow at nearly five times that of the national GDP growth (15% economic growth in franchising against a 3.1% GDP growth)."

"With the focus and hype surrounding the economic condition of the UK over more recent months, we felt it was important to hear the voice of actual businesses today; what they think; how their businesses are operating. The result was a continuing story of success and resilience." http://www.thebfa.org/pressroom/successstories.asp.

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Article Tags: bfa, british franchise association, economic condition, economic contribution, economic downturn, economic growth, franchise development, franchise networks, gdp, gdp growth, hype, national gdp, natwest, resilience, spit, successstories



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