The New Age Online:
The overall performance of South Africaâ€™s franchising industry has held fairly steady, despite the difficult economic conditions, with the average annual growth of around 5% to 7%, according to Morne Cronje, head of franchising at First National Bank.
Cronje said while this was not a particularly stellar performance, the sector had demonstrated that it was fairly robust and could hold its own as a contributor to the countryâ€™s economy, regardless of the financial crisis against which it is required to operate.
â€œFranchising in South Africa is still not fully realising its true growth potential and it would not take much to effectively double the sectorâ€™s growth figures, and its contribution to the nationâ€™s economic and social development.
â€œEssential to the achievement of this increase in the level of growth is the buy-in and cooperation of all franchising industry stakeholders from the franchisees and franchisors themselves to financial and funding institutions as well as local and national government.â€ Continue reading.