In this week's episode of Franchise Update, we bring you news on a report published by the bfa, on the ongoing success of the franchise industry despite the economic downturn as well as what Sir Alan Sugar's appointment as enterprise tzar will mean for the small business industry.
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The British Franchise Association have released a report which shows that over 90% of franchises are trading profitably and the industry contributed over £11 billion to the UK's GDP last year.
Sir Alan Sugar has been announced as the government's Enterprise Champion. As part of his appointment, Sir Alan is expected to give advice on how to ensure small businesses and entrepreneurs make the most of the real help available from Government and other organisations. It is expected that he may look at specific areas such as access to finance, prompt payment, how to handle the downturn and how to start a new business.
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