Intuit Study Shows How the Cloud Will Transform Small Business by 2020
Report Is the First in a Series Exploring the New Economy
MOUNTAIN VIEW, Calif. -- August 8, 2014
Nearly 80 percent of U.S. small businesses will be fully adapted to cloud
computing by 2020, more than doubling the current 37 percent rate, according
to “Small Business Success in the Cloud,” a new report from Emergent Research
and Intuit Inc (Nasdaq:INTU).
“This report paints a detailed picture of how small businesses will
increasingly use cloud technology not only for efficiency gains, but also in
more transformative ways that redefine the rules for achieving long-term
success,” said Terry Hicks, vice president and general manager, QuickBooks
Online Ecosystem at Intuit.
“Whether you’re a tech startup in Silicon Valley or a mom-and-pop shop on Main
Street, cloud technology presents radically new opportunities, and potentially
disruptive changes,” Hicks continues. “This report is all about developing a
deep understanding of how small business can stay ahead of the curve.”
“Small Business Success in the Cloud,” describes the impact of cloud
technology as it is progressively adapted by more and more small businesses –
moving from an initial focus on efficiency gains, to the emergence of new
models of business, through broad-based saturation across business and
The report is the first in a new “Dispatches from the New Economy” research
series, a comprehensive project exploring the ways economic, technology and
social shifts will shape the future of small business success. The series
builds on a 10-year partnership between Emergent Research and Intuit tracking
trends in small business.
“Small Business Success in the Cloud” uncovers the first four “faces of the
new economy” from the Dispatches series. These four personas represent small
businesses who have fully adapted the cloud, moving from passive to active use
of the technology:
*Plug-in Players: Small businesses will increasingly adapt to the cloud by
taking advantage of specialized services that can be seamlessly integrated
into back-office operations. Instead of spending time and effort on the
nuts-and-bolts of finance, marketing and human resources, cloud-adapted
small businesses will plug into cloud-based providers who deliver
comprehensive, tailored solutions, giving small business operators the
ability to focus on mission-critical areas of business.
*Hives: Cloud-adapted small businesses will increasingly be made up of
individuals who share talent to form a team. These businesses will operate
virtually, with employees working in different locations, and staffing
levels will be increasingly flexible, rising and falling to meet project
needs. For example, independent contractors will use virtual spaces to
connect and market themselves. On Main Street, small manufacturers and
producers may share a commercial facility.
*Head-to-Headers: A growing number of cloud-adapted small businesses will
compete head-to-head with major firms, using the growing number of
platforms and plug-in services to reach markets once only accessible to
large corporations. This is already being seen with platforms such as
AirBnB, which provide individuals with the ability to reach a mass market
through community infrastructure.
*Portfolioists: Successful cloud-adapted freelancers will bring together
multiple income streams to create a career portfolio. These largely will
be people who start with a passion, or specific skill, and are motivated
primarily by the desire to live and work according to their values,
passions, and convictions. They will increasingly build personal empires
in the cloud, finding previously unseen opportunities for revenue
These personas demonstrate how the cloud is creating a new era of opportunity
for entrepreneurs. They also portray the human side of how cloud computing is
making it cheaper and easier to start and scale a business.
“Today, the U.S. and global economy is going through a series of shifts and
changes that are reshaping the economic landscape,” said Steve King of
Emergent Research. “In this new landscape, many people are using the power of
the cloud to re-imagine the idea of small business and create new, innovative
models that work for their needs.”
“The cloud is transforming how small businesses operate and the way companies
like ours serve the needs of entrepreneurs,” said Joshua Reeves, CEO and
co-founder of ZenPayroll. “Small businesses are used to associating payroll
with tax calculations, countless forms, and hours of frustration. At
ZenPayroll we use technology to remove all of that pain so business owners can
focus on their relationship with employees, and help people feel appreciated
for their work.”
A copy of “Small Business Success in the Cloud” can be found on SlideShare. To
see past forecasts from Emergent Research and Intuit please visit
About Emergent Research
Emergent Research is a research and consulting firm focused on identifying,
analyzing and forecasting the key demographic, social, technology and economic
trends and shifts impacting business and society. Emergent Research partners,
Steve King and Carolyn Ockels, are co-authors of the Intuit 2020 Report and
the Intuit Future of Small Business Report Series.
About Intuit Inc.
Intuit Inc.creates business and financial management solutions that simplify
the business of life for small businesses, consumers and accounting
Its flagship products and services includeQuickBooks®,Quicken®
andTurboTax®, which make it easier to manage small businessesandpayroll
processing,personal finance, andtax 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® andLacerte® are Intuit's leading tax preparation
offerings for professional accountants.
Founded in 1983, Intuit had revenue of $4.2 billion in its fiscal year 2013.
The company has approximately 8,000 employees with major offices in theUnited
States, Canada, theUnited Kingdom,Indiaand other locations. More
information can be found atwww.intuit.com.
Steve Sharpe, 650-224-2362
Jen Garcia, 415-844-6244
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