Press Releases

Intuit Unveils Small Business Stimulus Program

Helps Small Businesses Save Money, Get Customers and Save Time Through Free Software, Grants and Educational Resources

MOUNTAIN VIEW, Calif – Jan. 27, 2009 – America’s entrepreneurs are getting a much-needed boost to start and grow their businesses with a new initiative from Intuit Inc. (Nasdaq: INTU), maker of the best-selling QuickBooks® financial software. The company’s “Small Business United” campaign features a stimulus package aimed at helping America’s 27 million small businesses save money, get more customers and save time.

The stimulus package includes:

•  Free software and services from Intuit valued at nearly $1,000 per small business to help them succeed. Four out of five Intuit customers agree that using QuickBooks helps their business succeed.
• $315,000 in small business grants to give entrepreneurs the extra boost needed during a tough economic climate. 
• $50,000 in donations to organizations that help budding entrepreneurs get started and advise existing businesses looking to grow.

Small businesses have long been the foundation of the U.S. economy. In the past 30 years, more than 90 percent of new jobs created in the country have come from small businesses, according to the National Small Business Association.

“Intuit is in a unique position to support small businesses by offering America’s best-selling software solutions for free,” said Brad Smith, Intuit president and chief executive officer. “In addition, the monetary grants will help ensure small businesses can be as successful as possible, continuing to grow, create new jobs and innovate.”

Free Small Business Software and Services

As part of its stimulus package, Intuit will give away both totally free and special offers of its best-selling solutions that help small businesses address their most critical problems: better managing their finances, getting more customers, paying their employees accurately and on time, and more:

The offerings, available at www.smallbusinessunited.com, include:

• Totally Free Software: Save money with accounting software: Based on customer surveys, 70 percent of QuickBooks users say that using QuickBooks helps them be more profitable, and agree that it helps them get paid faster. QuickBooks Simple Start Free Edition lets users easily track money coming in and money going out. The downloadable software is easy to set up and use, and also helps businesses get ready for tax time.
• Free Year: Get more customers with free Web sites: Intuit research shows that while less than half of small businesses have a Web site, more than 95 percent want one. The Intuit Website service lets businesses quickly set up professional-looking websites to attract more customers. The package, free for the first year, includes award-winning Web site-building software with easy point and click features and design templates, Web hosting, and toll-free phone support seven days a week. Charges after the first year start at only $4.99 per month.
• Free Six Months: Save time with free payroll service: To help small businesses accurately run payroll – and avoid costly mistakes and penalties – the Intuit Online Payroll service is available for free for six months and only $9.95 per month after that for new users, a savings of more than $300 per year. Simply enter employees’ hours and run payroll with just a few clicks.
• Free Service: Get incorporated with free incorporation services: With more entrepreneurs entering the market from other jobs that are no longer available, Intuit is offering free incorporation and LLC formation services from MyCorporation, an Intuit company, until July 31, 2009.
• Free Six Months: Get paid faster with free credit card processing: Finding more ways to help small businesses get paid and maintain cash flow, Intuit is offering credit card processing services free for six months through Intuit QuickBooks Online Terminal. Transaction fees still apply.
• Free Download: Manage cash flow with free retail management software: To maximize profits by tracking sales and customers, Intuit is offering its recently announced retail software, QuickBooks Cash Register Plus, as a free download, a $300 value.

For tax and accounting professionals, Intuit is offering a host of discounts on products that help them and clients operate at peak levels of efficiency and get more done in less time. As time is money. More information is available at http://accountant.intuit.com/getmoredone.

Intuit Encouraging Small Businesses to Help Each Other

America’s entrepreneurial spirit is stronger – and more united – than ever, according to Intuit’s recent study. Nine out of 10 small business owners surveyed said they rely on peers for support and advice. Fifty-one percent of small business owners said they feel a special bond or connection with other small business owners, while 53 percent believe they can learn from their peers' mistakes and successes.

Tapping into this sense of community, Intuit is providing a way for small businesses to win up to $25,000 by sharing their success stories and advice.

Entrants simply go to www.smallbusinessunited.com to share their experiences and survival tips. Judges will select 50 finalists to receive $5,000 and a Pure Digital Flip Video™ camcorder. These finalists are eligible to supplement their story with a video that will be posted on the site for public viewing and voting. This group will be narrowed down to four first prize winners, who will each receive $10,000 plus $2,500 worth of Intuit products. The grand prize winner will receive $25,000 and $2,500 worth of Intuit products and services. Entries are due by March 23 and finalists will be selected by April 1. Winners will be announced in May.

Helping Organizations Helping Small Business

Intuit is also contributing $50,000 in grants to several organizations that support and develop small businesses and entrepreneurs. These organizations, including The Latino Coalition, National Black Chamber of Commerce, Small Business & Entrepreneurship Council, and Women Impacting Public Policy, represent some of the faces of individuals starting new businesses today, according to the Intuit Future of Small Business Report.

Intuit’s Small Business United initiative is just one example of Intuit’s renewed company-wide focus on helping consumers and small businesses save and make money. While this benefit is particularly relevant in today’s environment, it has and always will be Intuit’s hallmark as it continues to deliver innovative products and services for its customers.

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 $3.1 billion in its fiscal year 2008. 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.

Survey Background and Methodology

Global Strategy Group surveyed 1,005 small business owners with 100 employees or less between Dec.16 and 19 on behalf of Intuit. The margin of error at the 95 percent confidence level is 3.1 percent.

Intuit, the Intuit logo, and QuickBooks, among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.