Joel Libava
(Pictured: the U.S. Treasury. You’ll see why I used this image)
According to research and analytical firm FRANdata, the firm responsible for helping put together the 2025 Franchising Economic Outlook, these are predicted to be the top 10 states for franchise growth in 2025.
- Georgia
- North Carolina
- Virginia
- Arizona
- South Carolina
- Pennsylvania
- Tennessee
- Florida
- Colorado
- Maryland
If you’re thinking about buying a franchise in 2025, and you live in one of those top 10 states for franchising growth, great! However…
The United States is Currently in the Middle of a Crisis
I’m referring to the crisis caused by the permission Elon Musk and his team of 20-year-old programmers? have been granted. A crisis that may end up hurting franchising and small business. A lot.
As of the writing, they’ve been given pretty much unfettered access to top U.S. government agencies.
“Musk’s efforts are part of a massive government restructuring by Trump, who has fired and sidelined hundreds of civil servants in his first steps toward downsizing the bureaucracy and installing more loyalists.”
There’s more.
“Americans are witnessing ‘an extraordinary centralization of power in someone who lacks a top-level security clearance and has not been subject to any Senate confirmation process,’ said Don Moynihan, a professor at the Ford School of Public Policy at the University of Michigan.”
Try My Free Franchise Buying Calculators Now!
The fact that Musk may now have your personal data, including your private medical information and financial information from the U.S. Treasury Department is frightening. Or at least it should be.
“But, Joel. What does that have to do with franchising and small business?”
That’s what this next part is about.
What About Franchising And Small Business?
And as this is a franchising/small business blog you’re on, I’d like to remind you about something.
Elon Musk is eyeing all U.S. government agencies. Including the U.S. Small Business Administration (SBA). What could that mean?
Franchisees and independent small business owners could have their private SBA Loan data looked at, or worse, revealed. And double worse, that data could potentially be sold to the highest bidder.
Update: one hour after I published this post, I received the following Press Release from the Office of Senator Edward Markey.
Contact: SBCDem_Press@sbc.senate.gov
Ranking Member Markey Demands Answers on Musk and DOGE Meddling in the Small Business Administration
Washington (February 6) – Small Business and Entrepreneurship Committee Ranking Member Edward J. Markey (D-Mass.) sent a letter to the Small Business Administration (SBA) Acting Administrator Everett Woodel demanding answers about reports that the SBA granted individuals associated with the Department of Government Efficiency (DOGE) access to all SBA data and payment systems.
In the letter, Ranking Member Markey wrote: “The SBA’s apparent complicity in this unlawful incursion and unauthorized access to the private and confidential information of millions of small businesses, homeowners, and renters nationwide who have utilized SBA’s programs — including its business loan and disaster assistance programs — is deeply troubling.”
Markey continued: “Allowing Elon Musk’s minions access to the sensitive information in the SBA’s systems raises privacy, data security, and other serious concerns.”
Last fiscal year, SBA provided $37.7 billion in loan assistance and made disaster loans to nearly 10,000 small businesses and 18,000 homeowners and renters totaling a combined $1.6 billion. During the COVID pandemic, SBA provided more than 22.1 million loans and grants to small business, totaling $1.2 trillion.
Could Elon Musk Pause SBA Loans?
Could Elon Musk and his minions turn off the SBA Small Business Loan machine? And/or stop the help the SBA gives out to military veterans who want to open franchises and other businesses?
If those things happen, so much for living in the 10 top states for franchise growth.
With that in mind, if you don’t want Musk (or anyone else President Trump chooses when their love-affair ends), to have access to your private personal and/or business data, call your congresspeople. Call your Senators.
Because, if you don’t speak up now to put an end to this madness, and potentially, have problems getting Small Business Loans, the franchise industry will take a huge hit.
And those top 10 states for franchise growth won’t add a lot of franchise businesses in 2025.
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