RBS branches out with franchise fund

Published on 04/02/2011 21:29

Royal Bank of Scotland has launched a £100 million dedicated franchise fund in a bid to "kickstart growth" and create thousands of jobs.

The bank highlighted research which showed that nine out of ten franchises remained profitable in a recession. It said the new fund would offer reduced fees and 12-month capital repayment holidays.

According to RBS, the UK-wide fund could finance up to 1,800 franchise businesses and 24,000 jobs, based on typical start-up costs and the fact that franchisees typically employ about 13 staff.