Small businesses are foundational to the global economy. They represent about 98 percent of all employer firms and account for more than half of the world’s jobs, and their creativity spurs innovation in all sectors of the economy. Intuit is proud to power more than 10 million small businesses across the globe with our suite of products and services like QuickBooks and Mailchimp. We are dedicated to helping millions of small and mid-market businesses worldwide simplify operations so they can grow and achieve prosperity.Empowering small business formation and growth is a key component to vibrant economies. Intuit supports policy that enables small businesses to access the capital they need to scale their firms. Access to affordable, reliable capital is hard to come by, especially for underserved small businesses who often lack the credit history or financial health to obtain a loan from a bank. Given these difficult circumstances for small businesses around the world, Intuit encourages governments to create an environment that fosters innovation in the financial services space. This ensures small business owners from all locations and backgrounds can access the capital they need to start and scale their businesses.
Small businesses should also have the opportunity to unlock their full potential by accessing the same technology that big businesses currently use to their advantage, like AI tools and systems. Emerging technologies like AI empower small businesses to make efficient and informed financial decisions with complete confidence. Helping small businesses bridge the digital divide by modernizing resources and technology literacy programs will help unlock the power of AI to make small businesses more competitive. Public policy should be updated to help small businesses grow and ultimately, level the playing field.
Governments play a crucial role in accelerating this growth. Many small businesses and entrepreneurs experience a confusing puzzle of permits and outdated regulations when they start out and try to scale. Intuit believes policymakers at all levels of government should support policy that reduces the regulatory burden for small businesses, enables them to feel confident about the decisions they make, and allows them to better plan for the future.
To advance innovation and policy that will accelerate small business growth, small business owners and entrepreneurs must have a seat at the table with policymakers, regulators, and relevant stakeholders. Intuit has launched the Intuit Small Business Council in the US and the UK, to facilitate conversations between policymakers and small businesses. We stand firmly behind our more than 10 million small businesses and believe their voices should be considered by governments and decision-makers.