Intuit has recently announced an investment of more than $8 million through a blog post for different initiatives to support small business owners and self-employed workers. The blog stated that as the COVID-19 pandemic plays out around the world, many business people are struggling to make ends meet and provide for their families. They are facing a loss of income, a lack of adequate savings to weather the storm, and poor access to health care. With shelter-in-place mandates increasing around the world, small businesses have had to close their doors and are running out of cash to pay their employees and their bills.
Intuit is relentlessly working and sending funds to organizations that are trying to control the situation and serving the community such as the United Nations COVID-19 Solidarity Response Fund for the World Health Organization and the Center for Disease Control and Prevention. Intuit is also extending their play by supporting several NGOs who are delivering funds and healthcare services to the people in need. Through its We Care and Give Back Program, the company is lining up employee donations 2:1 for 15 NGOs in six countries around the world.
Furthermore, Intuit QuickBooks has teamed up with GoFundMe to set up a Small Business Relief Initiative to help small businesses overcome the challenges faced at present. Through this platform, small businesses can create a fundraiser on the GoFundMe platform where they’re able to share their story with the public and request financial support to help cover employee-related and business expenses.
An instance has been shared in the blog post where a small business owner has lost 97 per cent of his sales and is struggling to pay the distributions. GoFundMe can help change such scenarios for many business owners. As per the post, a local deli in California recently raised $20,000 from donors to stay in business and continued to pay their employees even though the industry has slowed down.
Intuit is looking forward to finding more partners to boost the capabilities as well as the technology platform that will assist several businesses to acquire funds quickly and survive the pandemic.