This week I had the pleasure of joining Rep. Claudia Tenney (R-NY) and Rep. Julia Brownley (D-CA), the International Franchise Association (IFA), as well as several franchisors and franchisees, for a roundtable discussion on the introduction of the Veteran Entrepreneurs Act of 2017.
The proposed legislation would help more of America’s veterans become small business owners by creating a tax credit of up to 25 percent of the initial franchise fee. Alternatively, the veteran may transfer the applicable tax credit to the franchisor in exchange for a commensurate discount in the franchise fee.
Several veterans on the panel shared their stories and yours truly gave some insight on why Fish’s franchisor clients are likely to embrace the bill.
Truth be told, our clients recognize the value of having veterans as part of their system — and would likely support any legislation that gives veterans a path to small business ownership. Veterans have the necessary leadership and critical-thinking skills, as well as a familiarity with following a standardized operating procedure that make them suited for the franchising industry. The Veteran Entrepreneurs Act could help make their dreams of business ownership a reality.
To check out IFA’s Facebook Live stream of the roundtable discussion, visit https://www.facebook.com/IFA.DC/videos/1753918534627601/. (My 75 seconds of fame appear at around 11:10.)
