Today’s economic landscape is proving to be challenging for business owners in Canada.
A recent TD survey found that 27% of Canadians say the economy is too uncertain to start a business and 24% are not comfortable with the financial risk involved.
During this time of economic uncertainty, some prospective entrepreneurs are considering becoming franchisees to help reduce the risks of starting a business by leveraging a proven model and established brand.
According to the Canadian Franchise Association, franchises make up Canada’s 12th largest industry and is projected to contribute nearly $150 billion to the economy this year, creating jobs for almost two million Canadians.
With World Franchise Day on June 10, Terry Thrower, National Manager, Franchise Banking at TD, discusses the trend and offers tips for people interested in becoming entrepreneurs and franchise owners.
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