One of the recurring themes on this blog (see my posts here, here, here, here, here, and here) is the importance of access to credit for small businesses. Our elected representatives need to understand that small businesses will not be able to truly recover from the recession unless and until something is done to increase business lending and the availability of credit. And this isn't just about small business: this is about our national economy. If small businesses are able to get the access to credit that they need, those businesses can and will have a substantial effect on our economy. This is re-affirmed in a story in the Wall Street Journal this week reporting on a study conducted by the International Franchise Association. According to the article, "if franchisees could borrow all the money they need this year, they could purchase over 41,000 new or transfer businesses and create an astounding 333,000 new jobs."
Based on the reports I heard while attending the IFA's Legal Symposium this week, our elected officials are starting to listen when it comes to the issue of access to credit. If you are reading this blog and you agree that credit access is one of the most important issues for franchises and small businesses in general, please take the time to write or call your representatives and ask them to support measures for increased lending to small businesses.