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|Title:||A STUDY OF FRANCHISING AS A MEANS TO UPGRADE THE LOCAL SMALL- AND MEDIUM-SIZED RETAIL BUSINESSES IN SINGAPORE||Authors:||LIM ENG NEO DEBORAH||Issue Date:||1994||Citation:||LIM ENG NEO DEBORAH (1994). A STUDY OF FRANCHISING AS A MEANS TO UPGRADE THE LOCAL SMALL- AND MEDIUM-SIZED RETAIL BUSINESSES IN SINGAPORE. ScholarBank@NUS Repository.||Abstract:||There are currently more than 70,000 small and medium enterprises (SMEs) In Singapore, which comprise about 98% of the total number of firms in the country. The SME sector is therefore extremely important to the economy. While insufficient attention was given to the SME sector in the past in recent years, the Government has put in much effort to help this sector. The SMEs have been facing problems all along due to their limited sizes and resources. However, these problems have aggravated of late, especially among the local small- and medium-sized retail businesses (SMRs). The retail sector was singled out for special attention after the Government realised the situation this sector was in. Apart from falling demand and intense competition for resources, the SMRs were also being crowded out by larger retailers that were better meeting the needs of the more sophisticated customers of today. These problems were first highlighted in the SME Retail Plan In 1990 and then in the Strategic Economic Plan which was released In 1991. The SMEs In the retail sector make up a large proportion of all SMEs In the economy and employ a substantial portion of the total workforce. However, they have been generating undesirably low value-added figures. There is thus an urgent need to upgrade these SMRs In view of the problems they now face. Other than poor performances, the SMRs also face problems such as the lack of an external economy and few entrepreneurs willing to start up entrepreneurial retail ventures to strengthen the sector. This paper focuses on these current problems of the SMRs and looks into how they can be alleviated, thus allowing the SMRs to be upgraded in the process. Franchising has been explored as a possible solution to rectify the current situation of the SMRs. Information was obtained from both primary and secondary sources. The views of parties Involved In franchising activities were examined and several Interviews were also conducted to obtain a more accurate picture. Various periodicals, newspapers and books also served as valuable sources of information. The paper concludes with recommendations with respect to the Issue addressed. It hopes to convince the reader of the viability of franchising as a means of upgrading the operations of the local SMRs in Singapore and to help them overcome their current problems.||URI:||https://scholarbank.nus.edu.sg/handle/10635/170444|
|Appears in Collections:||Bachelor's Theses|
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