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Got Apps? Small Businesses Present
Massive Opportunity for Developers
Intuit Study Finds Small Business Owners Spend 4 Hours a Day Online;
Smartphone a Primary Device for Many
MOUNTAIN VIEW, Calif. – April 16, 2015 – Small businesses are hungry for apps. And that’s good news for app developers, who have a once-in-a-generation opportunity to feed a massive and hungry market – the 29 million U.S. and 600 million global small businesses who are increasingly running their operations in the cloud.
“The Appification of Small Business,” a new research report commissioned by Intuit Inc. (Nasdaq: INTU), reveals the extent to which small businesses have already moved to the cloud, and projects the growing opportunity for developers.
The research, conducted by Nielsen Consumer Insights, shows that:
- The small business market is a lucrative developer opportunity – Small business owners currently spend $630 annually on software solutions, In addition, 85 percent of small businesses are willing to invest more in the next five years.
- The center of the small business cloud is financial management – On average, small business owners spend four hours a day online running their business. The top three online activities are: bookkeeping and accounting (65 percent), generating invoices and or accepting payments (65 percent) and managing existing customer relationships (58 percent).
- Small business owners want seamless integration between solutions – four out of five (81 percent) small business owners say it is important that the different software solutions they use work seamlessly together. Increasingly this includes mobile solutions, with nearly half (43 percent) of small business owners using a smartphone as the primary device to run their operations.
“This research provides concrete evidence of why developers should pay attention to the small business opportunity, and how they can go about creating game-changing apps,” said Avi Golan, vice president and general manager of the Intuit Developer Group. “We believe that developers hold the key to unlocking the true potential of the small business cloud. That’s why we’ve turned QuickBooks Online into an open platform with best-in-class developer tools and a dynamic apps store.
“With nearly 1 million small business subscribers, QuickBooks Online offers developers access to the world’s largest market of cloud-based small businesses.”
Dawn of the Cloud-powered Small Business
Developers have a rare opportunity to seize first-mover advantage in the small business apps marketplace because small businesses are only just reaching the tipping point of cloud adoption. Research shows that while 37 percent of U.S. small businesses are currently adapted to the cloud, that number is expected to grow to 78 percent by 2020.
“I spend almost 100 percent of my time online during the business day,” said Michelle Sahagian, owner of Western Food Safety, a small business in Mission Viejo, Calif. “The same software I love I also hate, because it doesn't do everything I need. An ideal solution would save me time and money by meeting the specific needs of my business and integrating seamlessly with the other tools I already use.”
Developer Activity Surges
Developer activity on the QuickBooks Online platform has increased 10-fold in the past year, totaling more than 10,000 active third-party developers today. A year ago, developers offered 80 apps that worked with QuickBooks Online. Today, there are over 1,000, including 200 featured in the QuickBooks Online apps store.
“Whether you’re an established developer or just getting started, partnering with Intuit is a great opportunity to expand your offering,” said Kim Ford, CEO at ServiceM8, a cloud solution for service business available in the QuickBooks apps store. “We love the open platform and the energy from Intuit’s team as we build a combined solution, focused on supporting small businesses globally.”
Developer Experience Fuels Speed and Agility
Intuit offers a world-class suite of tools and services, enabling developers to work with sample code and test an idea for a QuickBooks Online app in just 15 minutes. Sample apps provide examples of e-commerce, time-based billing and customer relationship management integrations. New software developer kits and simple documentation make it easier than ever to call QuickBooks Online application programming interfaces, or APIs.
Click here for more information about the small business apps market opportunity.
A representative sample of 504 U.S.-based small were surveyed by Nielsen Consumer Insights from Jan. 21 - 27. The vast majority (82 percent) of small business owners surveyed have fewer than five employees, and virtually all (97 percent) have fewer than 25 employees. The types of business surveyed were: service-based (59 percent), product-based (22 percent) and hybrid (18 percent).
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.