Intuit Touts Strong Future for Small Business in Briefings with Industry experts and Lawmakers
WASHINGTON, D.C. – March 28, 2008 – Barriers to starting a small business will shatter and their success rates will improve over the next decade, according to study results that Intuit Inc. (Nasdaq: INTU) shared in briefings with members of Congress and small business industry leaders. The meetings focused on the importance of small businesses and their future impact on the U.S. economy.
Intuit Senior Vice President Rick Jensen met with members from the Senate Committee on Small Business and Entrepreneurship and the House Committee on Small Business. The leader of Intuit's small business group, which serves more than 7 million small businesses employing 17 million workers, also met with representatives from 12 small business associations, including the Small Business Administration, U.S. Chamber of Commerce, the Association of Women's Business Centers and the Association of Small Business Development Centers.
Jensen encouraged lawmakers and national organizations to think about the collective role they can play in helping small businesses start, survive and thrive as he offered insights based on Intuit's extensive experience in serving small business customers. He also shared findings from the groundbreaking Intuit Future of Small Business Report™, a unique study that looks forward 10 years and examines the prospects, influences and profiles of small business.
Comments Well Received
Legislators said they welcomed Intuit's perspective.
"There are numerous opportunities for the committee members to consider when it comes to where technology intersects with small business," said Sen. Mark Pryor, D-Ark. "We welcome Intuit's recommendations for legislation that will empower small businesses through the use of today's technology to help them realize their dreams."
Jensen also shared how Intuit has grown beyond a company that provides personal finance and tax preparation software.
"Intuit is more than just a tax company. We started as a small business, and as we've grown, we have seen first hand what it takes to succeed," Jensen said. "As a small business champion, part of Intuit's mission is to enable the 72 percent of Americans who dream of starting a small business begin, and help those already in business flourish and fulfill their dreams."
Meetings with industry associations were meant to generate discussions about working together to find more ways to help small businesses succeed.
"We were glad to have the opportunity to meet with Rick Jensen and to hear the conclusions of the Intuit study," said Barbara Wrigley, Executive Director of the Women's Business Center of Northern Virginia and Vice Chairman of the Association of Women's Business Centers. "We applaud Intuit's openness and willingness to share its findings with others to ultimately help those who help small businesses."
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small and mid-sized businesses; financial institutions, including banks and credit unions; consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax® software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation software suites for professional accountants. The company's financial institutions division, anchored by Digital Insight, provides on-demand banking services to help banks and credit unions serve businesses and consumers with innovative solutions.
Founded in 1983, Intuit had annual revenue of $2.67 billion in its fiscal year 2007. The company has approximately 8,000 employees with major offices in the United States, Canada, the United Kingdom and other locations. More information can be found at www.intuit.com.
About the Intuit Future of Small Business Reports
The Intuit Future of Small Business Report™ is a three-part study sponsored by Intuit and authored by the Institute for the Future. The report looks at the significant trends and forces affecting small business over the next decade. The first installment revealed the changing face of small business. The second installment examined technology trends and their impact on small business formation and operation. The third installment looks at how these concepts are shaping an environment where small businesses can thrive, benefiting from collaboration with big business, access to enhanced computing power and a global marketplace.
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