Intuit remains the undisputed leader of accounting and financial services for small business owners. According to a recent report, it services approximately 80% of all small businesses in the U.S., which is far more than any other financial software provider.
The Small Business Administration (SBA) estimates there to be some 27.9 million small businesses operating in the U.S. — a number that’s expected to grow even higher in the years to come. Running a successful small business isn’t an easy task, as many entrepreneurs struggle to keep up with their revenue and expenses. Intuit aims to make this process a little easier with its wide range of software and services like Quickbooks Online, Quickbooks Desktop, etc.
In a recent interview, Jim McGinnis, Vice President of the Accountants and Advisors Group at Intuit, gave some insight into two key markets targeted by Quickbooks: the 400,000 accountants who work directly with small business owners to help them with their finances, and the five million or so small business owners who are currently using the Quickbooks software. Even so, this means roughly 15 million small businesses are not using Quickbooks, meaning there’s plenty of room for Intuit to grow even larger and more dominant.
Quickbooks has launched a new tool to help reach these 15 million small business owners — Quickbooks Online Self Employed. Located at http://quickbooks.intuit.com/self-employed/, it’s optimized specifically to meet the unique needs of self-employed workers.
But Intuit’s services aren’t limited strictly to the U.S. As noted by Nikhil Arora, India as a prime market for Intuit, as it attracted 100,000 new Quickbooks users just last quarter. This means Intuit now has a total of 841,000 paying Quickbooks users worldwide — an impressive number to say the least!
“The rapid year-on-year traction that Intuit QuickBooks has experienced in India is indeed very encouraging. Intuit is the world leader in cloud financial management solutions, available in over 124 countries. Last quarter we added 100,000 new QuickBooks subscribers and now we have 841,000 paying subscribers worldwide,” said Nikhil Arora, Vice President and Managing Director of Intuit India, in a recent press release. “Our vision is to become the operating system behind Indian small business success by delivering powerful solutions on the cloud. We will continue to work on empowering small businesses in their journey to success. Today we serve one out of five practicing chartered accountants in India and by 2020 we are looking at one in four small businesses to be using Intuit products and services.”