Intuit Celebrates Small Business Success in the Month of May

For the third year in a row, Intuit, the creator of QuickBooks, TurboTax, Credit Karma, and Mailchimp, is designating May as Small Business Success Month.

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The company will be hosting a variety of events to acknowledge the influence small businesses have on communities and to honor their success.

Among the scheduled events are Intuit QuickBooks and Mailchimp Small Business Hero Day; a Fireside Chat featuring fashion designer and entrepreneur Christian Siriano and chef and restaurant owner Kathy Fang; and an Intuit Small Business Council visit to Washington, D.C. to promote conversations between policymakers and small business leaders.

Intuit celebrates that small businesses are the backbone of local communities and is committed to developing advancements that enhance their success.

In fact, according to the U.S. Bureau of Labor Statistics, 69% of businesses that have utilized QuickBooks at some point have survived beyond their fifth year, as opposed to the overall U.S. small business success rate of 52%.

Reaching the five-year mark is a critical juncture for many businesses in regard to managing cash flow. Recent QuickBooks data indicates that 61% of small businesses operating for under five years have issues with cash flow.

However, surpassing the five-year threshold often translates to a decline in cash flow difficulties, with only 44% of established small business owners reporting cash flow as 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 May, Intuit has planned an array of resources and events to promote the ongoing success of small businesses. These include:

Small Business Fireside Chat on May 9: At 1 PM ET / 10 AM PT, Intuit QuickBooks and Mailchimp will be organizing a talk centered on the reinvention of conventional industry practices and the use of atypical approaches to drive success.

The event will feature Christian Siriano, an American fashion designer and co-founder of “Send the Trend,” and Kathy Fang, co-owner and Chef at Fang Restaurant, as well as a Food Network television personality.

Emmy award-winning journalist Lisa Ling will moderate the conversation. Those interested in attending can register here for the event.

Intuit QuickBooks and Mailchimp Small Business Hero Day on May 16: For the second year in a row, Intuit will continue its tradition of honoring the heroic efforts of small businesses that go above and beyond for their communities, for the second year in a row.

On May 16th, Intuit will reveal the names of three Small Business Heroes in a press release, and feature them in content created by Intuit, QuickBooks, Mailchimp, and TurboTax.

Small Business Advocacy in Washington, D.C., on May 18: The Intuit Small Business Council will be visiting Washington, D.C. to partake in dialogues pertaining to significant issues that confront small business owners today. The council aims to offer insight and guidance to policymakers in order to sustain the success of small businesses throughout the United States.

Small Business Success Content Hub: Intuit will be presenting fresh resources and content to aid small businesses, which will be showcased on its Small Business Success Hub. Additionally, the company will be unveiling a new infographic that dispels common myths surrounding the initial five years of running a business. The infographic will feature feedback from customers who have successfully crossed that crucial threshold.

Dynamic Conversations with Small Businesses: Intuit QuickBooks and iHeartMedia have collaborated to create a new biweekly podcast titled Mind the Business: Small Business Success Stories.

Hosted by Austin Hankwitz (Rate of Return) and Jannese Torres (Yo Quiero Dinero), the podcast will feature conversations with small business owners who will share their experiences of managing the challenges and triumphs of running a small business. Listeners will gain valuable insights to help them navigate their own entrepreneurial journey.

Moreover, Intuit Mailchimp launched the third season of the Call Paul podcast on May 1st (episodes are archived to download at any time).

Hosted by Paul Jarvis, the podcast features discussions with successful small business owners who prioritize ethics and values in their operations. Over ten episodes, Paul delves into how building a business with integrity, passion, and values can drive sustainable growth.

New Social Impact Program

Additionally, Intuit’s Supplier DEI & Social Impact Program has launched a new program aimed at enhancing cash flow for small businesses.

The initiative will expedite payments upon receiving invoices for small and diverse suppliers that are minority-owned (including Asian-Indian, Asian-Pacific, Black, Hispanic, or Native American), woman-owned, veteran-owned, LGBTQ+ owned, and/or disability-owned.

In contrast to most businesses that are extending payment terms, Intuit is committed to paying small and diverse suppliers in under 10 days. This is a crucial step towards supporting these small businesses to succeed.