Bank Fund Offers £100m to Franchise Start-ups

Would-be business owners seeking finance to become franchisees can apply for a dedicated bank loan, following the launch of a £100-million fund. The joint NatWest and RBS fund is aiming to finance up to 1,800 new franchise businesses and 24,000 new jobs (based on typical start-up costs and franchisees typically employing around 13 staff). “The [franchise] industry has shown itself to be virtually recession proof, so for the many people left out of work by the recession franchising is a great way to start up a business.” said NatWest and RBS chairman of small business, Peter Ibbetson. British Finance Association director general, Brian Smart, added: “The fund is a great way of encouraging new entrants into this vibrant sector. The UK franchise industry has performed well i... »