Asean has fallen behind its own goals for building an economic community and should promote proven franchise models if it wants to avoid failing on its SME development objectives.
Today, franchise businesses provide everything from professional services such as legal and accounting practices, to hotel and resort management, education providers, aged-care facilities, transport and logistics, domestic services and specialised capital equipment for industries such as mining and construction. Beyond burgers and fries, this proven business model also delivers economic growth, employment growth, and export income fuelling activity in the small and medium enterprise (SME) sector.
The 2010-15 Asean Economic Community (AEC) blueprint outlines areas of cooperation and integration to create a highly competitive economic region with freer movement of goods, services, labour and capital. The objective is to promote more equitable economic development and fully integrate the region into the global economy.
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