Katrina King: Franchise Association of New Zealand CEO on what current economic conditions mean for businesses

Tough economic conditions over the past six years have taken a toll on the survival rate of small and medium-sized businesses, but franchises appear to have fared better. International data supplied by the Franchise Association of New Zealand (FANZ) indicates about 75 to 85 percent of franchises were still operating after five years, compared with about half of independent small businesses. Franchise Association of New Zealand CEO Katrina King says business is tough for everyone in this climate, but some sectors have been able to hold on.  "I think with franchising, because of the breadth of industry and because it is in every part of New Zealand - there's going to be resilience."  LISTEN ABOVESee omnystudio.com/listener for privacy information.