Crowe and QuickBooks will help advance
financial maturity, foster capital-readiness, and better position
these small businesses to thrive
CHICAGO, Feb. 26,
2024 /PRNewswire/ -- In conjunction with Black
History Month, Crowe LLP, a leading public accounting, consulting,
and technology firm, and Intuit Inc. (Nasdaq: INTU), the
global technology platform that makes
Intuit QuickBooks, TurboTax, Credit Karma,
and Mailchimp, announced their collaboration on a
new Crowe Beacon small business advancement initiative,
which will source funding commitments from several key financial
institutions and sponsors. The pilot initiative is focused on
helping Black, Indigenous, People of Color (BIPOC), women, and
veteran-owned small businesses grow, enhance financial maturity,
and become more capital-ready. It will give an initial 1,000
qualifying U.S. small businesses access to the QuickBooks financial
technology platform along with much needed accounting and
consulting services from Crowe that will better position them to
manage and capitalize their businesses to drive sustainable
growth.
Nearly 20% of small businesses are minority-owned, according to
the latest U.S. Census Bureau's Annual Business Survey, and for
Black small business owners, 30% have relied on credit cards to
fund investments in their business's future growth, according to
the 2024 Intuit QuickBooks Black History Month Survey.
The Crowe Beacon small business advancement initiative is
tailored to serve the needs of high-performing businesses that may
historically be underserved and under-resourced – with a specific
focus on BIPOC businesses with annual revenues below $5 million. Crowe Beacon provides all the
traditional accounting and consulting services of Crowe on an
affordable managed service platform that can help enterprises
develop, mature, and evolve their financial and business planning
capabilities in a way that better positions them to leverage
financial and capital mechanisms.
QuickBooks will serve as the exclusive small business technology
partner for the Crowe Beacon initiative, providing participating
small businesses with access to the QuickBooks Online platform, a
connected suite of tools that create efficiencies and deliver
insights to help businesses at every stage of growth manage their
finances end-to-end, and provide transparency to capital and
procurement readiness. QuickBooks will also provide onboarding,
training, and technical support to help small business owners
realize the benefits of using the integrated QuickBooks
platform.
Leveraging the QuickBooks platform, Crowe will provide critical
accounting guidance and coaching, and access to a portfolio of its
leading consulting and advisory services. This includes tax
planning and preparation, cash flow planning, forecasting,
invoicing and many more - the result will be small businesses with
better accounting and financial practices that will enable them to
unlock their true potential and help them scale and grow.
"Our mission at Intuit is to power prosperity," said
Barry Pennett, Chief Sales Officer,
Intuit QuickBooks. "Partnering on the Crowe Beacon initiative
enables us to deliver upon our mission by providing participating
businesses with access to our powerful, integrated QuickBooks
platform so they can make more informed business decisions that
help them grow."
"These small businesses serve as the heartbeat of our
communities, and we want to empower and enable companies of all
shapes and forms to succeed – because absent that equity, there is
no real sense of community. We're excited to work with Intuit
QuickBooks to support the underserved and underrepresented small
businesses that need it most," said Khary Bridgewater, Crowe consulting principal
and leader of Crowe Beacon. "Through the Crowe Beacon program, we
look forward to offering an extensive portfolio of services and
capabilities that support the scaling and long-term success of
businesses that traditionally have not had access to this type of
support."
To learn more about Crowe Beacon, please click here.
About Crowe
Crowe LLP is a public accounting,
consulting and technology firm that uses its deep industry
expertise to provide audit services to public and private entities.
The firm and its subsidiaries also help clients make smart
decisions that lead to lasting value with its tax, advisory and
consulting services, helping businesses uncover hidden
opportunities in the market – no matter what challenges the markets
present. Crowe is recognized by many organizations as one of the
best places to work in the U.S. As an independent member of Crowe
Global, one of the largest global accounting networks in the world,
Crowe serves clients worldwide. The network consists of more than
200 independent accounting and advisory services firms in more than
130 countries around the world.
About Intuit
Intuit is the global financial
technology platform that powers prosperity for the people and
communities we serve. With 100 million customers worldwide using
TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that
everyone should have the opportunity to prosper. We never stop
working to find new, innovative ways to make that
possible. Please visit us at Intuit.com and find us on
social for the latest information about Intuit and our
products and services.
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SOURCE Crowe LLP