Today's Technology for Tomorrow's Firm.
Issue link: https://cpapracticeadvisor.epubxp.com/i/382390
20 September 2014 • www.CPAPracticeAdvisor.com THE PROADVISOR SPOTLIGHT SPONSORED CONTENT In fact, for many small business owners, fnding funding is the biggest hurdle in turning their passion into a reality. Intuit surveyed its QuickBooks users and found that 60 percent of its small business customers needed some ty pe of additional funding for their business. On average, 70 percent of s m a l l bu s i ne s s ow ne r s h a d be en declined for business fnancing. One reason t hat sma l l busi ness owners are denied fnancing is lack of complete a nd acc u rate d at a . T he information fnancial institutions need to prov ide f inancing to small busi- nesses differs from the information required for an individual to obtain personal credit. Unfortunately, many fnancial institutions are unable to get the data they need and tend to rely on ot her f i na ncia l i n for mat ion when approving or denying credit to busi- nesses. Tis has led to many small business ow ners using their personal credit cards to fund their startup when they couldn't get funding otherwise. Intuit has recognized that many small busi- ness owners could indeed get fnanced for their business if fnancial institu- tions shifed the focus from the indi- v idua l 's f i na ncia l sit uat ion to t he T he small business owner continues to be at the heart of the QuickBooks ecosystem. With every product, service and feature released, Intuit seems to be determined to make the next step even easier than the previous. So, it was no surprise when Intuit launched QuickBooks Financing to help with what remains a big challenge for small businesses. Intuit Connects Small Businesses and Lenders with QuickBooks Financing