FBDS plans increased income, jobs through franchising
Franchise Business Development Services (FBDS), has pledged to nurture and develop entrepreneurial talent, promote good corporate governance and transparency to attract informal businesses to the formal sector.
It stated that the aim of its 3rd edition of the Franchise Matchmaking Forum, in Lagos, was specifically meant to achieve the purpose. Speaking on the theme, ‘Scaling Social enterprise and economic development opportunities through franchising’, which featured sessions by experts from the industry, who discussed exhaustively on how to manage a franchise and drive profit in a very competitive business economy, the Minister of State, Federal Ministry of Industry Trade and Investment, Aisha Abubakar, said the Federal Ministry would ensure that bill to provide for the regulation of franchising in Nigeria is passed by the National Assembly.
“This is in furtherance to efforts by the ministry to support and provide enabling environment for MSMEs to thrive so as to play their rightful role in wealth and job creation, poverty reduction and stimulation of growth of the domestic economy.”
“The ministry is currently leading a campaign promoting the patronage and expansion of Nigeria brands. I am optimistic that franchising would be a useful tool in delivering these goals,” she said.
According to Managing Consultant/FBDS Convener, Mr. Chiagozie Nwizu, the Forum was part of FBDS’ measure, to facilitate risk free venturing, business sustainability, growth of the enterprise sector and attraction of foreign direct investments to the economy through the franchise business model.
He said: “Franchise Matchmaking is a quarterly franchise investor’s forum creating opportunities where the franchisor finds qualified potential franchisees who meet his brand’s criteria, and the potential franchisee meets the franchisor with a suitable proposition for his investment interest.”