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IFA Concerned About Sluggish Job Creation

When the Labor Department issued the June jobs report showing shockingly slow economic recovery, the IFA immediately voiced concern that we’re simply not creating jobs fast enough. The numbers were incredibly disappointing, with nearly 13.9 million Americans unemployed, more than six million out of work for more than six months, and the smallest jobs gain in almost a year. In an effort to boost our business community, the IFA FranBlog suggested the following ways for the franchise industry to create jobs at a more rapid rate.

1. Congress Must Increase Access To Credit – The capital reserve requirements and regulatory scrutiny by the Fed, the FDIC and the OCC could be inadvertently and unnecessarily holding back credit access to small businesses. Congress must examine these detrimental conditions so companies are able to get the credit they need to hire and grow.


2.  Congress Has To Review SBA Loan Guarantees – Congress should look into how financial regulators are determining SBA loan guarantees. In the event that they are not giving due consideration of SBA loan guarantees when capital reserves are calculated, this can deter banks from approving small business loans despite Congressional intent to broaden access to credit.

3. Congress Needs To Support Pro-Business Legislation – Congress must maintain its support of legislation such as the Small Business Jobs Act, which has been a savior to small businesses both during and after the recession. Through its specialized programs, the SBA has been able to develop more than $500 million in taxpayer dollars into nearly $12 billion in new small business loans.

According to the IFA, the franchising industry has the ability to create 40,000 new businesses this year, including transfers, which could add more than 350,000 to 400,000 jobs to the economy while supporting the creation of another 350,000-400,000 jobs indirectly. This growth potential is too strong and important to ignore.

Now, the faster creation of new jobs rests on the entrepreneurial shoulders of small businesses, but they need the support of Congress to reduce the regulatory roadblocks and credit limitations. Only then can the franchising industry can back to building up business.

Read the ifafranblog article.

MDG Advertising is a full-service South Florida advertising agency, with offices in Florida and New York, that specializes in developing targeted franchise marketing solutions, exceptional online executions, and solid branding and media buying strategies that give franchises a real competitive advantage. MDG Advertising handles creative, media, and interactive marketing for Coverall, one of the world’s leading commercial-cleaning franchising companies, with a global network of more than 90 support centers and 9,000 franchisees.

Our core capabilities include advertising, branding, creative, digital marketing, media planning and buying, public relations, Web design and development, email marketing, direct mail, video marketing, social media marketing and SEO. To view MDG’s portfolio, click here. For more information, email MDG, call 561-338-7797 or log on to

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