Franchising and Licensing (FLA) Singapore is entering a new era of dynamism with exciting developments. The franchising and licensing fraternity is expected to power ahead with double-digit growth as both local and foreign players continue to leverage on Singapore as the choice location for their expansion plans in Asia.
Being the central voice of the fraternity, FLA will be playing an increasingly prominent role in helping members and the overall franchising and licensing fraternity raise professional standards, and provide relevant assistance to achieve their business objective and expansion goals. This in turn will further spur the acceleration of the industry and enlarge the contributions to the nation’s overall economy and society.
To encourage more companies to capitalize on the robust economic growth of Singapore and Asia, and to strengthen their brands here and overseas, FLA is taking new innovative and strategic initiatives, one of such initiatives is – setting up the Franchise Development Centre (FDC) to promote and champion the development of franchising and licensing businesses. The centre will be conducted in collaboration with other business associations, business services providers and overseas partners. The main objectives of the FDC are:
- To serve as a “first information point” to supply entrepreneurs and households with information related to franchising and licensing – for example, basic business advice, investment opportunities, relevant contacts (such as franchisors’ contact, government agencies, legal advisors as well as franchise consultants.)
- To provide Start Up Assistance for potential franchisors and/or franchisees, including services for one-stop registration of business as well as Business Matching Services, Government Assistance program, business funding assistance (through tie up with official bank to provide preferential rates to the franchising fraternity) to name a few.
- To provide Internationalization Assistance for more established franchisors ready to venture overseas. This will include Branding, IP and trademark related issues, as well as networking opportunities through FLA trade shows and mission trips.
The FDC is part of FLA’s overall vision to transform the franchising and licensing industry and raise it to international levels of recognition and success. This is a timely initiative in the light of rapid growth made by the accelerating franchising and licensing industry in Singapore. This FDC will broaden the capacity of FLA, the franchising fraternity and other agencies to work together synergistically and be more effective and pro-active in their activities to support the fraternity.