Intuit expands IDEAS program to support veterans and small business growth
- Intuit is expanding its IDEAS business accelerator program to nine new cities across the United States.
- Participants will gain access to important tools and mentorship in various aspects of business operations.
- This program aims to drive economic inclusion and support small business owners, particularly veterans.
In the United States, Intuit announced the expansion of its IDEAS (Invest, Develop, Empower, Accelerate, Scale) business accelerator program to nine metropolitan areas. This initiative, which previously started in Los Angeles and later extended to Atlanta and Philadelphia, demonstrated success with an average revenue growth of 23% among participants in its inaugural year. The program also lessened participants' workload by reclaiming an average of 16.5 hours each month through improved processes and automation. The newfound cities benefiting from this expansion are Charlotte, Chicago, Dallas/Fort Worth, New Orleans, New York City, and San Diego. Along with geographical growth, a significant addition is the introduction of a dedicated cohort for military veterans and their spouses. This initiative illustrates a commitment to inclusive entrepreneurship, honoring the service of veterans, and acknowledging their potential to contribute economically. With the ability to serve up to 250 small business owners nationwide, the IDEAS program aims to transform participants’ entrepreneurial dreams into reality by equipping them with necessary tools and mentorship. The core of the program revolves around access to Intuit’s platforms, including QuickBooks, TurboTax, MailChimp, and Credit Karma. Participants benefit from guidance tailored to address the operational challenges faced by small businesses. This encompasses important areas like business compliance and tax preparation, facilitated by industry experts. The IDEAS program serves as a model for economic development, integrating crucial financial education into practical applications and empowering small business owners alike. The broader implications of the IDEAS program resonate with many financial literacy advocates who view it as a direct intervention from the private sector to address economic disparities. The intervention aims to bridge the financial education gap for small businesses by combining strategic support with hands-on insights, allowing participants to make informed decisions, manage risks, and ensure sustainable growth. Intuit’s dedicated efforts towards fostering small business environments collectively contribute to a more inclusive economy, which can motivate the next generation of entrepreneurs.