The Appification of Small Business is a new research report from Intuit shows the extent to which small businesses have moved to the cloud, a trend they forecasting to continue (disclosure: Emergent Research contributed to this report).
Key findings include:
- The small business market is a lucrative developer opportunity – Small business owners currently spend $630 annually on software solutions, In addition, 85 percent of small businesses are willing to invest more in the next five years.
- The center of the small business cloud is financial management – On average, small business owners spend four hours a day online running their business. The top three online activities are: bookkeeping and accounting (65 percent), generating invoices and or accepting payments (65 percent) and managing existing customer relationships (58 percent).
- Small business owners want seamless integration between solutions – four out of five (81 percent) small business owners say it is important that the different software solutions they use work seamlessly together. Increasingly this includes mobile solutions, with nearly half (43 percent) of small business owners using a smartphone as the primary device to run their operations.
The report chart below illustrates how big this opportunity is.