The following is a re-post from Direct Capital Blog. Useful information, I thought.
Today, the best and brightest in the financing and lending industries will be meeting to take a hammer to the biggest roadblock left to small business recovery: A lack of access to capital.
The time is right. Firms have about three months of economic data for 2011, and much of it suggests that the economy is inching its way back to respectability. It also shows that the lending environment is still shaky, and small businesses and franchises simply do not thrive without the infusion of cash they need.
So the International Franchise Association is meeting today at the Capital Hilton in Washington, D.C. with leaders from the financial, regulatory and small business sectors to take on those challenges. The focus is especially sharp on franchises, which are being called key to the growth of the economy overall.
To help guide the discussion, the IFA is holding panel discussions on the economy in 2011, lenders’ views on the current climate, and how franchises can help the economy. The point is both to educate and engage, according to IFA officials, and to come up with solutions to the current financing crunch:
“Franchising, due to its structure and demonstrable track record of 40 percent growth over the last decade, offers the most promising vehicle to accelerate widespread job creation in this country,” said IFA President & CEO Steve Caldeira. “Yet without sufficient financing, franchise businesses will continue to struggle to become a true locomotive for job creation, which it has been historically.”
For more information about the summit, visit the IFA website. We’ll be following up on the goings-on and delivering reports to you in the coming days, so make sure you stay tuned.
Photo credit to Sarah Dawn Nichols at http://www.sxc.hu/photo/65166