..a special breed of entrepreneur
- 0 Comments
Running a business during a recession requires a special breed of entrepreneur: one who can adapt to a changing market, find creative solutions to problems, take risks cautiously, and demonstrate the courage to move forward.
Long-term economic pressures such as those that this country has weathered for the past 18 months can spell disaster for even the most tenacious business owners.
Nonetheless, amid the endless stories of corporate downsizing and business bankruptcies, many franchised businesses are thriving and growing.
“Franchising is one bright spot in a lagging economy,” says Gregg Reynolds, chairman of the International Franchise Association, more than 18,500 new businesses were created, adding approximately 108,000 new jobs to the economy.”
It is no surprise that franchising continues to ride out the economic turmoil that has caused many less resilient types of businesses to fail. Traditionally, franchising’s success over the past 30 years has been tied to its ability to identify and respond to rapid consumer and market changes, no matter how subtle or small.
