We all remember the crash of the stock markets over a year ago. Entrepreneurs like myself watched the television as the economic structure of the United States and the world began to crumble. We then watched as we wondered about our franchises as our nation’s leaders told us we needed to bail out our banks across the country with billions of dollars in order to keep our banking system alive.
Today we are looking out over 2010 and franchisors and franchisees are looking at a banking system that is making it almost impossible to start a business. America was founded and prospered on the entrepreneurial spirit and today the banking system our tax dollars saved is turning its back on American business. Now I agree that 3 years ago was not the right direction when banks were lending money out to anyone with a valid identification card. However, today capable and qualified people are being turned away by banks as they try and open their own franchise units. This is not a problem unique to illuminate gym or fitness franchises. People can’t get funding for their businesses and they watch as their hopes of becoming entrepreneurs get put on hold as the banks try and swing back to get ourselves out of this pickle. My only question for the banks is where did all our bail out money go? It seems to me rather than opening up the credit markets to get commerce flowing again the banks have decided to sit on the bail out money or acquire more assets making them much more powerful when the economy turns. Either way entrepreneur and our nation will suffer as entrepreneurs cannot get money to keep the entrepreneurial spirit alive in America. What people who aren’t entrepreneurs don’t understand is the entrepreneurial spirit is the ingenuity that makes America so great. Hopefully, in the near future the banks will get back on track where they don’t loan money out to everyone but they do loan money to those people who deserve it most.
Thanks for reading and have a healthy day! If you would like to check out how illuminate gym is making it easier to become an entrepreneur in the fitness industry you can check us out at www.illuminategym.com/franchises.php. Thanks for reading.
Tags: bank, banks, credit market, credit markets, economy, entrepreneurs, fitness franchises, fitness indsutry, franchise, franchises, illuminate gym