Last year, more than 124,000 franchisees offered the products and services of over 1,100 franchisors in the country. This translated to more than a million jobs generated and a total of US$9.45B in output, which is equal to 5% of the country’s total gross domestic product (GDP). These figures make the Philippines the leader in Southeast Asia in terms of franchise concept development.
The Philippine Franchise Association acknowledges that this growth is fueled by the entry of new players from micro, small and medium enterprises (MSMEs), the continued rise of the business process outsourcing (BPO) industry, and the introduction of indigenous and food concepts.
Esquire Financing Inc. (EFI) recognizes the potential in funding the development of emerging enterprises, especially now when there is positive economic growth in the country. “MSMEs are the pillars of growth of the Philippine economy. They will catapult economic production into greater numbers through job development,” Esquire President/CEO … Continue Reading →