Intuit Survey Finds American Dream Alive and Well
More Small Business Owners Enjoy Being Their Own Boss, Despite Concerns Over Economy and Competition
MOUNTAIN VIEW, Calif. - Mar. 01, 2006 - Happiness is owning a small business. That's the finding of a recent survey by Intuit Inc. (Nasdaq: INTU), which showed that small business owners in record numbers enjoy being their own boss. More than four out of five small business owners - 84 percent to be exact - said they're happy running their own show in the 2006 QuickBooks Small Business Survey, up 12 percent from a year ago. In fact, 73 percent of respondents cited that they would encourage others to start a business with 83 percent stating that they would start their business over again, if given the choice.
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But their happiness is tempered by a watchful eye on the economy and competition from big business. Only 52 percent of small business owners said that they were optimistic about the economy in 2006, down 5 percent from 2005, while 20 percent were uncertain about the economy, up 10 percent from last year. When asked about the number one issue facing small businesses in general for 2006, 34 percent of respondents chose the economy while 24 percent cited competition from big business.
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"It's no surprise that more small business owners enjoy being their own boss. It gives them control over their future, especially as some large companies have lay-offs in which employees have no control," says Laurie McCabe, vice president of SMB Insights & Solutions, AMI Partners. "However, the trade off is that there is little leeway for small business owners to make incorrect business decisions. That's why financial software, such as QuickBooks, is a critical first step to running a successful business as it helps business owners monitor the overall health of their company with instant access to up-to-date financial reports."
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Along with more control, owning a business enables many people to turn their hobby into a fulfilling career.
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"Turning my love of kayaking into a pay check was a dream I had for a long time. I turned this dream into reality," says Bill Lozano, owner of Atlantic Kayak Tours in New York. "To build a successful business I learned right away that I needed to keep my business data and finances organized, especially for tax season, using QuickBooks. As a result, my finances are always in order and I have a way to manage and track my solid and ever growing customer base. Now I can spend more time on my business and less time worrying about how to stay afloat next to my competitors."
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QuickBooks Financial Software
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With more than 3 million small business and 230,000 accountant customers, QuickBooks has earned a reputation as the leading choice for small businesses. Built on Intuit's trademark ease-of-use, QuickBooks simplifies key business tasks and offers powerful accounting features and performance to save businesses time and stay organized for tax time. The QuickBooks product family grows with small businesses from startup to mid-market. It's also available in industry-specific solutions for construction, manufacturing and wholesale, nonprofit, accounting, professional services and retail industries. More information on QuickBooks products and services is available at www.quickbooks.com.
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Survey Background and Methodology
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Decipher Inc. is an independent, full-service market research firm based in Fresno, Calif., and conducted the QuickBooks Small Business Survey at the start of the New Year. A sample of 534 small business owners was contacted. Respondents accessed the survey via Decipher's online system.
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About Intuit Inc.
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Intuit Inc. is a leading provider of business and financial management solutions for small- and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks, Quicken and TurboTax software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries and Lacerte are Intuit's leading tax preparation software suites for professional accountants.
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Founded in 1983, Intuit had annual revenue of more than $2 billion in its fiscal year 2005. The company has nearly 7,000 employees with major offices in 13 states across the U.S., and offices in Canada and the United Kingdom. More information can be found at www.Intuit.com.
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Intuit, the Intuit logo, QuickBooks among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.
