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Small Business Success in the Cloud

‘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 society.

The report is the first in a new ‘Dispatches from the New Economy’ research series, a comprehensive research project exploring the ways economic, technology and social shifts will shape the future of small business success. The series builds on a ten year partnership between Emergent Research and Intuit tracking trends in small business.

Small Business Success in the Cloud

  1. 1. Dispatches from the New Economy Intuit’s Future of Small Business: #SMBecosystem
  2. 2. Small Business Success in the Cloud STEVE KING, Partner, Emergent Research #SMBecosystem TERRY HICKS, Vice President and General Manager, QuickBooks Online Ecosystem, Intuit JOSHUA REEVES, CEO & Co-Founder, ZenPayroll
  3. 3. We are going through a disruptive shift… …and watching a new economy emerge #SMBecosystem
  4. 4. Dispatches from the New Economy: Small Business Success in the Cloud Authored by Steve King and Carolyn Ockels, Emergent Research Methodology: Mix of research and forecast methods Builds on 10 years of forecast research with Intuit First installment released today; more to come #SMBecosystem Emergent Research
  5. 5. Major forces are converging Socioeconomics Customer needs Technology + infrastructure Platforms + ecosystems #SMBecosystem
  6. 6. Socioeconomics Technology •  Cheaper, easier •  Marketing reach •  Advanced capabilities Support infrastructure •  The Cloud •  Variable cost services •  Coworking •  Financial services •  New funding sources •  Education (on & offline) •  Govt. programs, ACA Businesses •  Partnering •  Outsourcing •  Contingent Workers •  Supply Chain Expansion Consumers •  Local •  Unique/customized •  Services •  Experiences Economic •  Lack of jobs •  Reduced job attractiveness •  Job Polarization •  Economic uncertainty Social •  Work/Life Flexibility •  Passion, Meaning •  Autonomy, Control Market & Labor Platforms •  Etsy, Ebay, Etc. •  oLance, TaskRabbit, Mturk, etc. •  New talent agents •  Airbnb, other sharing, etc. Ecosystems •  Apple •  Schwab •  Google •  Intuit, etc. Networks •  Online •  Meet-ups •  Business partnering •  Accelerator programs (e.g. Google Ventures) Demographic •  Aging Boomers •  Millennials •  Women •  Minorities Forces Driving the New Small Business Economy Customer needs Technology + infrastructure Platforms + ecosystems New Small Business Forms, Organizational Structures & Ways of Doing Business #SMBecosystem
  7. 7. #SMBecosystem Implications: Touches everyone New models for businesses both big and small Completely new forms of small businesses emerging
  8. 8. The cloud is redefining the small business playing field #SMBecosystem
  9. 9. 2000’s 2010’s 2020’s Business & Societal Transformation 2030’s & Beyond Cloud Computing: A Transformative Technology GENERATION 3: Transformative Impacts on Business and Society GENERATION 2: New forms, structures & ways of doing business GENERATION 1: Efficiency gains #SMBecosystem
  10. 10. The Cloud Democratizes IT Implications for Small Business: Cheaper and easier to start and scale a business Variable instead of fixed costs Greatly enhanced customer acquisition, service and support Access to technology and capabilities once only available to large organizations Enables platforms, networks and ecosystems #SMBecosystem
  11. 11. Faces of the New Economy #SMBecosystem
  12. 12. •  Plug in to services platforms and products provided by other firms •  Enabling niche small businesses, the sharing economy, and peer-to-peer commerce •  Creating business models based on ecosystems and networks EXAMPLES •  DemandForce •  Contingent workers, partnering and outsourcing •  Growth of side gigs #SMBecosystem
  13. 13. •  Emperors of his/her own personal empire •  Brings together multiple income streams to create a career •  Various activities may or may not leverage each other EXAMPLES •  Freelancers •  Millennials •  Baby Boomers #SMBecosystem
  14. 14. •  Individuals and small businesses leveraging shared talent to form teams •  Focus on flexibility and agility •  Teams form up and down as needed EXAMPLES •  Pooling of resources in co-working and other shared workspaces •  Agents using platforms like Elance and MBO Partners to form work teams #SMBecosystem
  15. 15. •  Small businesses and individuals who compete head-to-head with larger firms •  Leverage technology and platforms to attack markets once only served by large corporations •  Happening in almost all industries EXAMPLES •  80 to 100 VC backed Pharma or Biotech companies will be created this year; hundreds more will start without VC funding •  Craft brewers; artisan bike manufacturers; specialty clothing companies; etc. •  Kiosk investment banks #SMBecosystem
  16. 16. The Future of Small Business is in the Cloud 37% 78% 20202014 By 2020, 78% of small businesses will be fully adapted to the cloud, up from 37% in 2014 #SMBecosystem
  17. 17. For more information, contact: #SMBecosystem Steve Sharpe Intuit, Inc. 650-244-2362 Jen Garcia Access Communications 415-844-6244 Stay tuned for Intuit’s next Dispatch from the New Economy Intuit’s Future of Small Business