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Published on : Thursday, November 28, 2013
Earlier this month, ADP reported that the franchise industry added 25,060 jobs in October, representing 20 percent of all new jobs for the month. Yet, while jobs created hit a 4-month high, the International Franchise Association (IFA) announced today that the Franchise Business Index (FBI), an index of the economic health of the franchising industry, was unchanged in October at 110.8 (Jan 2000=100). Although components of the index that capture employment and sales in franchise-intensive industries each showed small gains, both measures of small business optimism and credit conditions declined.
“Franchise businesses continue to outperform the economy, however the ongoing partisan gridlock associated with the government shutdown and debt ceiling debate, the lack of a long-term growth agenda and the continued anti-business regulatory environment is holding back what we believe would otherwise be a more robust recovery for the franchise and small business community,” said IFA President & CEO Steve Caldeira.
After incorporating revisions to last month’s data for individual components of the index, the September value of the FBI was revised upward slightly to show a 0.3 percent increase over the August value.
Designed to provide timelier tracking of the growing role of franchise businesses in the U.S. economy, the FBI was developed by IHS Global Insight on behalf of the IFA Educational Foundation. The FBI combines indicators of growth in the industries where franchising is most prevalent and measures of the general economic environment for franchising.