QuickBooks Momentum Continues; Small Business Growth on the Rise Around the Globe

By Scott Cytron

2 min read

Yesterday, Intuit® announced second quarter earnings, and it showed that our focus on helping small business customers around the world thrive is, well, thriving.

As you read this blog post, know that you are part of a very large and successful community. There are more than 1.8 million small businesses just like you around the world who are benefiting from the power of the QuickBooks® ecosystem. This includes the accountants that easily connect to your data and advise you, and the developers and app partners that build their solutions to seamlessly integrate with QuickBooks to serve your specific needs and help you complete countless industry-specific tasks.

Although QuickBooks Online has been around since 2001, it feels like we are just getting started. The number of customers grew 49 percent in the last three months, and January saw our biggest single growth month in our history! And the best is yet to come. The product development team is working right now on new innovations to help you love running your business, simplify the accounting and compliance aspect of your business so you can focus on your customers.

We introduced several innovations on the QuickBooks Online platform this quarter, including a complete re-imagination of QuickBooks.com and improving the experience for first-time users, and we recently launched a brand new matchmaking service that helps you more easily find and work with the best accounting professional for your specific needs.

And it’s not just happening in the United States. There are small business owners just like solving problems with QuickBooks in more than 120 countries and growing. The number of customers using QBO outside the U.S grew by 61 percent since last year to about 370,000, with both the United Kingdom and Canada recently surpassing the 100,000 mark.

We’re really excited about our newest offering, QuickBooks Self-Employed. QBSE is built by a team on a mission to put money back in the pockets of hard working self-employed people (drivers, designers, management consultants, etc) around the world by giving them an easy and affordable way to manage their finances and save money at tax time. Self-employed workers are expected to reach 43 percent by 2020, so we’re thrilled to see such a great initial reaction to our solution. We’ve grown from 50,000 users to more than 180,000 in the last 12 months, and we’re just getting started.

To continue this momentum, we’re investing in you. We’ll continue to focus on improving your experience with our products and partners, and we’re working hard to spread the word around the world and introduce new entrepreneurs to the power of our ecosystem through events like QuickBooks Connect in San Jose, London, Sydney and Toronto.

“We’re very proud of our performance and how we have been able to deliver for customers so far this year,” said Brad Smith, president and CEO of Intuit. “We remain confident in our ability to compete and win, and it’s driven by our laser focus on a creating a delightful product experience that puts more money back in our customer’s pockets.”

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.
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