Intuit Makes Bold Commitment to Boost Small Business Success

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New QuickBooks Programs Focus on Funding, Networking and Celebrating Success

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)-- 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, 650-944-4385
sarah_voros@intuit.com
or
Access Communications
Jen Garcia, 415-828-2514
jgarcia@accesspr.com

Source: Intuit Inc.

Released May 4, 2015