New Intuit Small Business Growth Council Launched to Champion AI and Digital Transformation for Small Businesses in the UK

Rhea-AI Summary

Intuit (NASDAQ: INTU) has launched the Small Business Growth Council in the UK, a new initiative aimed at empowering small businesses through AI and digital adoption. The Council, comprising 18 digitally-connected businesses, will focus on shaping policies for innovation and economic growth.

Research indicates that digitally connected businesses are 2.4 times more likely to report higher productivity and 2.3 times more likely to see increased revenue. However, over 25% of UK small businesses still don't use basic digital tools. The potential impact is significant - if the UK's 1.1 million micro businesses doubled their AI technology uptake, it could unlock a £16.6 billion productivity boost.

The Council will focus on three core areas: driving digital adoption, simplifying business administration, and democratizing access to AI. The initiative builds on the success of Intuit's US Small Business Council, which helped introduce the Small Business Technological Innovation Act (S.305).

Positive

• Building on successful US Council model that led to legislative changes
• Strategic partnership with UK government for policy influence
• Potential to unlock £16.6 billion in productivity gains through AI adoption
• Initiative addresses significant market opportunity with 25% of UK businesses still not using digital tools

Negative

• No immediate revenue impact disclosed
• Success depends on government policy adoption and implementation
• Significant barriers to adoption including cost and complexity need to be overcome

Business leaders urge support for AI and digital tools in government's growth strategy

LONDON--(BUSINESS WIRE)-- Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, today announced the launch of the Intuit Small Business Growth Council (Council), a new initiative dedicated to empowering small businesses in the UK through AI and digital adoption.

The Council, which consists of 18 digitally-connected businesses, will amplify the voices of small businesses in shaping policies that drive innovation and economic growth. Despite clear evidence that digitally connected businesses are 2.4 times more likely to report higher productivity and 2.3 times more likely to see increased revenue, more than 25% of UK small businesses still don’t use basic digital tools.

Intuit will host a roundtable with the Council at the Department of Business and Trade today. Intuit CEO Sasan Goodarzi and The Rt Hon Jonathan Reynolds MP, Secretary of State for Business and Trade will lead the roundtable discussion with Small Business Council members: Afiya Titus, Co-founder, Coco Financial; Emma Thomson, Founder, Gemz by Emz; and James Vincent, Co-founder, Hot Source Creative.

As the UK government prioritises digital reform and AI adoption, the Intuit Small Business Growth Council will help ensure small businesses are at the heart of this transformation and given the consideration and support to access these tools. By championing policies that make AI and digital tools more accessible, the Council will help small businesses harness technology to drive growth and efficiency. Research shows that if the UK’s 1.1 million micro businesses doubled their uptake of AI technology, it could unlock a £16.6 billion productivity boost. The initiative underscores Intuit’s commitment to empowering small businesses with the tools, resources, and advocacy they need to thrive in the digital economy.

A Proven Model for Small Business Advocacy

The Intuit Small Business Growth Council builds on the success of the Intuit Small Business Council in the United States, which has helped drive meaningful policy changes. The US Council’s advocacy led to the introduction of the Small Business Technological Innovation Act (S.305). The bipartisan legislation would make explicit that loans backed by the US Small Business Administration (SBA) can be used to fund the adoption of digital tools and technology by small businesses.

The UK Council brings together entrepreneurs from diverse industries, ensuring a broad range of expertise and perspectives on the opportunities and challenges of digital adoption are brought to the table. Focused on advocacy by small businesses for small businesses, the Council will put their voices at the forefront of conversations with key policy makers across the UK.

The Council will focus on three core areas:

1. Driving Digital Adoption – Helping more small businesses embrace digital tools by tackling barriers like cost and complexity. The Council will advocate for better support, incentives, and resources to ensure businesses can fully benefit from digital transformation.
2. Simplifying Business Administration – Helping small businesses save time and reduce complexity by advocating for smarter, digital-first solutions. For example, Making Tax Digital (MTD) has already saved UK businesses up to £915 million, yet further improvements could unlock even greater efficiencies. The Council will champion efforts to streamline tax processes and cut administrative burdens, allowing small firms to focus on growth.
3. Democratising Access to AI – Ensuring small businesses aren’t left behind in the AI revolution. The Council will work to make AI tools more accessible and practical for small businesses, while ensuring their voices are heard in key industry and policy discussions.

Sasan Goodarzi, CEO of Intuit, says: “When businesses succeed, communities and economies prosper. Together with the UK government's focus on digital adoption, we can fuel the success of small businesses with the use of data and AI to automate and complete tasks and workflows, from lead to cash, helping every business thrive. I’m excited for the new Council to bridge this gap and help ensure that UK policies reflect the needs of these entrepreneurs who are critical to the UK economy.”

Secretary of State for Business and Trade, Jonathan Reynolds, said: “AI and digital tools can be game changers for small businesses’ productivity, but we know there are barriers which get in the way of wide-spread adoption, which is why Intuit’s Small Business Growth Council is so important. This Government is working with industry leaders, including groups like the SME Digital Adoption Taskforce, to develop practical solutions addressing these challenges, supporting small businesses to thrive, growing the economy and securing the UK’s future through our Plan for Change.”

Rose Sellman-Leava, Small Business Growth Council member and Co-Founder of Inclusive Futures UK, adds, "I’m incredibly honored to have been invited to become a member of the Intuit Small Business Growth Council. Technology plays a huge part in helping our business make the greatest impact, but too often, policies and support structures don’t reflect our realities. This Council will give small business owners a seat at the table, helping to make sure digital transformation is accessible, practical, and truly beneficial for businesses of all sizes."

James Vincent, Small Business Growth Council member and Co-Founder of Hot Source Creative, says, "SMEs are eager to embrace digital tools and AI, but challenges like cost, complexity, and regulatory barriers often stand in the way. This Council is about ensuring small businesses aren’t left behind—we need real, practical support to unlock the full potential of digital transformation."

Leigh Thomas, Vice President for Europe, the Middle East, and Africa (EMEA), at Intuit, says: “The Intuit Small Business Growth Council has the chance to build on lessons learned over the last few decades in making sure small business owners’ voices are heard in Westminster. Its members span some of the most tech-forward enterprises and the most cherished traditional businesses. All are eager to play their part in shaping the UK’s digital agenda.”

For more information about the Small Business Growth Council and its mission, visit the Intuit blog.

About Intuit

Intuit is the global financial technology platform that powers prosperity for the people and communities we serve. With approximately 100 million customers worldwide using products such as TurboTax, Credit Karma, QuickBooks, and Mailchimp, we believe that everyone should have the opportunity to prosper. We never stop working to find new, innovative ways to make that possible.

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Source: Intuit Inc.

FAQ

What is the potential economic impact of AI adoption through Intuit's (INTU) UK Small Business Growth Council initiative?

If UK's 1.1 million micro businesses double their AI technology uptake, it could generate a £16.6 billion productivity boost.

How much more successful are digitally-connected businesses according to Intuit's (INTU) research?

Digitally-connected businesses are 2.4x more likely to have higher productivity and 2.3x more likely to see increased revenue.

What are the three main focus areas of Intuit's (INTU) new UK Small Business Growth Council?

The Council focuses on driving digital adoption, simplifying business administration, and democratizing access to AI.

How many businesses are currently part of Intuit's (INTU) UK Small Business Growth Council?

The Council consists of 18 digitally-connected businesses.

What percentage of UK small businesses still don't use basic digital tools according to Intuit (INTU)?

More than 25% of UK small businesses still don't use basic digital tools.