Intuit Makes Bold Commitment to Boost Small Business Success
May 04 2015 - 8:30AM
Business Wire
New QuickBooks Programs Focus on Funding,
Networking and Celebrating Success
Intuit Inc. (Nasdaq: INTU) is making a bold commitment to boost
the success rate of small businesses across the country. The
commitment targets three big challenges facing small businesses:
funding, networking and celebrating success.
Funding
- Small Business challenge: Small
business owners struggle to get the funding they need. Intuit data
shows that 60 percent of small business customers have been denied
loans for reasons such as a FICO score that suggests they’re not
worthy.
- Solution: Intuit is investing a
$100 million fund that will give small business owners a fast, easy
way to help grow their business with one click of a button.
The fund will include investment from Intuit and third parties. The
fund is a new offering on the QuickBooks Financing
platform, a marketplace of finance products where targeted offers
have delivered 70 percent acceptance rates for small business
owners.
Networking
- Small Business Challenge:
Running a small business can be lonely, whether self-employed or
managing a mid-size company. Many small business owners are unsure
of where to go for help, and want to connect with other like-minded
entrepreneurs. Intuit data shows that 70 percent of small business
owners say networking with other business owners is important, and
41 percent feel lonely in their work life.
- Solution: Intuit is creating
networking opportunities and connecting small business owners with
those who can help, such as accountants and developers. A five-city
QuickBooks Connect Local tour will reach Atlanta, Detroit, Seattle,
Boulder, Colo., and Austin, Texas before culminating in the second
annual QuickBooks Connect national conference in San Jose, Calif.,
in November. Intuit will also be launching an online network
tailor-made to connect like-minded small businesses.
Celebrating Success
- Small Business challenge: Small
business owners deserve more credit for their remarkable
contributions. They have created nearly two-thirds of the nation’s
net new jobs during the past 15 years. Yet Intuit data shows that
more than one-third of them, 37 percent, rarely have time to
reflect on or celebrate their success.
- Solution: Intuit is bringing
back Small Business Big Game to celebrate, inspire and connect the
nation’s 29 million small businesses. The campaign culminates with
one small business receiving an all-expense paid television
commercial during professional football’s biggest game on Feb. 7,
2016, at Levi’s Stadium. More than 15,000 small businesses entered
the initial Small Business Big Game contest in 2013.
“Our bold commitment is all about putting the tremendous
contributions of small businesses in the spotlight,” said Dan
Wernikoff, senior vice president and general manager of Intuit’s
Small Business Group. “Being a small business owner is really tough
work. The days are long, there’s never enough time, and the work
can be lonely. At Intuit, we’re committed to doing our part to
create the conditions for more small businesses to find long-term
success.”
About Intuit Inc.
Intuit Inc. creates business and financial management
solutions that simplify the business of life for small businesses,
consumers and accounting professionals.
Its flagship products and services
include QuickBooks®, Quicken® and TurboTax®, which
make it easier to manage small businesses and payroll
processing, personal finance, and tax preparation and
filing. Mint.com provides a fresh, easy and intelligent way
for people to manage their money, while Demandforce® offers
marketing and communication tools for small businesses. ProSeries®
and Lacerte® are Intuit's leading tax preparation offerings
for professional accountants.
Founded in 1983, Intuit had revenue of $4.5 billion in its
fiscal year 2014. The company has approximately 8,000 employees
with major offices in the United States, Canada,
the United Kingdom, India and other locations. More
information can be found at www.intuit.com.
Intuit and Small Business Big Game are not affiliated with the
NFL or the Super Bowl.
Intuit Inc.Sarah Voros,
650-944-4385sarah_voros@intuit.comorAccess CommunicationsJen
Garcia, 415-828-2514jgarcia@accesspr.com
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