Equal Access
Giving minorities, veterans and women a fair shot at franchising
A "memorandum of understanding" was recently reached between the SBA and the International Franchise Association (IFA) to promote franchise ownership among minorities, women and veterans. Together, they're also urging lending institutions to help bring franchising into economically distressed areas by increasing loan volume to qualified members of these underrepresented groups.
"As people become more versed in the process and profitability of [franchising], they see it as a viable alternative to opening their own businesses," says Debbie A. Smith, IFA's vice president of public affairs and emerging markets. "At the same time, franchisors haven't necessarily gone after ethnic minorities or women [as a population]. They've probably just looked at whomever walked through the door."
Continue reading this article - and everything on Entrepreneur!
We make some of our best content available to Entrepreneur subscribers only. Become a subscriber for just $5 to get an ad-free experience, exclusive access to premium content like this, and unlock special discounts.
Entrepreneur Editors' Picks
-
Kale Was a Garnish Before This Creative Genius Made It Famous. Here's How She Did It — and What She's Planning Next.
-
Telling Your Brand Story Is Crucial. 4 Steps to Ensure That It Resonates.
-
This Baker Was Told Not to Speak Spanish With Colleagues, So She Started Her Own Cake Company That Values Employees Just as Much as Customers
-
Improving Yourself Takes 9.6 Minutes of Work Each Day
-
Meet the Women Behind Some of McDonald's Most Iconic (and Essential) Ingredients — and How They're Setting New Standards
-
Remote Work Shouldn't Be Up for Debate
-
Employees Are Over Foosball Tables and Free Snacks. Your Company Culture Needs This Instead.