By highlighting stories of small business success and driving conversations, Intuit aims to help the small business community thrive
MOUNTAIN VIEW, Calif., May 01, 2023--(BUSINESS WIRE)--Intuit (NASDAQ: INTU), the global technology platform that makes QuickBooks, TurboTax, Credit Karma, and Mailchimp, is declaring May as Small Business Success Month for the third consecutive year and featuring a series of activities to recognize the impact small businesses have on our communities and celebrate small business success. This includes Intuit QuickBooks and Mailchimp Small Business Hero Day, a Fireside Chat with fashion designer and business owner Christian Siriano and chef and restaurant owner Kathy Fang, and an Intuit Small Business Council visit to Washington, D.C., to foster small business discussions with policymakers.
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Small Business Success Month (Photo: Business Wire)
Small business success fuels the growth of local communities and Intuit is focused on delivering innovations that improve the small business success rate. In fact, 69% of businesses who have used QuickBooks at some point survive beyond their fifth year, compared with a success rate of 52% across all U.S. small businesses, according to the U.S. Bureau of Labor Statistics. Surviving past the five-year mark is also a critical point for many businesses when it comes to managing cash flow. Recent QuickBooks data shows that of small businesses operating for under five years, 61% indicate cash flow is a problem. But succeeding beyond five years often means cash flow problems subside, with only 44% of lasting small business owners indicating cash flow is a challenge.
"Small businesses are the pillars of their communities, engines of innovation, and the backbone of the American economy," said Alex Chriss, EVP and GM, Small Business & Self Employed Group at Intuit. "Dedicating May to celebrating small business success offers an incredible opportunity to spotlight small business owners, foster engaging conversations that support their growth, and introduce tools and resources that can help our small business community thrive."
Small Business Success Month Activities
Throughout the month of May, Intuit will offer a variety of resources and events for the small business community to support and celebrate their continued prosperity including:
● Small Business Fireside Chat on May 9: Intuit QuickBooks and Mailchimp will host a conversation around reinventing traditional industry norms and using unconventional strategies to drive success with Christian Siriano, American fashion designer and co-founder of "Send the Trend," and Kathy Fang, co-owner and Chef at Fang Restaurant and Food Network television personality, on Tuesday, May 9, at 1 p.m. ET / 10 a.m. PT. Emmy award-winning journalist Lisa Ling will moderate the conversation. Registration for the event is available here.
● Intuit QuickBooks and Mailchimp Small Business Hero Day on May 16: For the second year in a row, Intuit will celebrate the heroic ways small businesses go above and beyond for their communities every day. Three Small Business Heroes will be announced in a press release on May 16 and showcased in content developed by Intuit, QuickBooks, Mailchimp, and TurboTax.
● Small Business Advocacy in Washington, D.C., on May 18: The Intuit Small Business Council will be in Washington, D.C., May 18 to engage in discussions on important issues facing small business owners today, and help inform policy decisions to continue to foster small business success around the U.S.
● Small Business Success Content Hub: New content and resources to support small businesses will be featured on our Small Business Success hub, alongside a brand-new infographic speaking to the biggest myths about the first five years of business, including quotes from customers who’ve successfully passed that major milestone.
● Dynamic Conversations with Small Businesses: Intuit QuickBooks and iHeartMedia have introduced Mind the Business: Small Business Success Stories, a new biweekly podcast in which hosts Austin Hankwitz (Rate of Return) and Jannese Torres (Yo Quiero Dinero) connect with small business owners to hear their stories about managing the ups and downs of starting and growing a small business. Listeners will be able to learn valuable lessons to help guide them along their own small business journey. Intuit Mailchimp is launching season 3 of the Call Paul podcast on May 1, a show hosted by Paul Jarvis featuring conversations with small business owners who prioritize doing the right thing, and as a result, are wildly successful. Over 10 episodes, Paul offers an insightful look into how building a business with integrity, passion, and values can drive sustainable growth.
In addition to these activities, Intuit’s Supplier DEI & Social Impact Program has introduced a new initiative to improve small business cash flow by accelerating payments upon receipt of invoices for small and diverse suppliers that are minority-owned (Asian-Indian, Asian-Pacific, Black, Hispanic, or Native American), LGBTQ+ owned, woman-owned, veteran-owned, and/or disability-owned. At a time when most companies are extending payment terms, through this program Intuit is paying small and diverse suppliers in under 10 days as part of our commitment to fueling small business success.
Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With more than 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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