The economic impact of small businesses? Not so small, after all.

The impact small businesses and accountants have on the economy isn’t so small when you consider that they make up more than 99% of all businesses in the UK. The launch of the new Intuit Small Business Growth Council will bring together entrepreneurs from across the UK to engage directly with policymakers and champion the kinds of policies that will help small businesses turbocharge their growth and productivity. 

Small- and medium-sized enterprises (SMEs) power the UK economy, representing over 99% of all businesses. They play a crucial role as innovators, local employers, and the cornerstones of communities across the nation. However, SMEs often face significant barriers to success and lack representation in the policy discussions that could address their challenges. As part of Intuit’s mission to power prosperity and improve small business success rates, we are committed to connecting small businesses from across the country with policymakers, bringing real-life perspectives to how policy frameworks that impact small businesses are built. 

Intuit is proud to announce the launch of a new Small Business Growth Council in the UK to connect SMEs with policymakers. The Council will serve as a conduit between the business community and government as it explores policies to boost business productivity, competitiveness, and exports. The inaugural Council comprises 18 passionate small business owners and accountants from diverse sectors and geographies. These leaders will engage on behalf of Intuit’s many small businesses nationwide by providing authentic perspectives to shape policy recommendations.

The Intuit Small Business Growth Council will focus its efforts on advocating for key drivers of small business growth, including driving digital adoption, simplifying and digitising business administration, and democratising access to artificial intelligence (AI).

Driving digital adoption

Intuit is committed to expanding digital adoption as a critical driver of small business success. Embracing digital tools has become essential for growth and competitiveness. Yet, more than 1 in 4 SMEs in the UK still do not use basic digital tools. Council members will share their insights with the policy community to help identify barriers to adoption and provide inputs on  policies that encourage businesses to go digital. Critically, digitally connected small businesses are 2.3x more likely to report higher revenue, highlighting the transformative power of embracing digital tools. 

Simplifying and digitising business administration

Complex and time-consuming administrative tasks are a burden for small businesses and
a potential inhibitor of economic growth. To address these challenges, the Council will advocate for policies that streamline processes, reduce red tape, and promote digitising business administration, freeing up valuable time and resources for entrepreneurs to focus on innovation and growth. Research shows that the digitisation of business administration could unlock an additional £57 billion for small business growth. Further, digitisation has the potential to help combat the challenges that late payments cause for small businesses. Addressing the issue of late payments could inject an additional £2.5 billion into the economy, making it another important area of focus for the Council. 

Democratising access to AI

As applications of AI become more ubiquitous, the Council will work to promote ideas around access to AI technologies and the skills needed to leverage them are readily available to small businesses of all sizes. Democratising access to AI is crucial to level the playing field and drive innovation for small businesses. Hearing from the Council—small business owners who are early adopters of AI-powered digital technologies—will be invaluable as the government considers policies to promote equitable access to AI technology and grow the economy through AI innovation. Importantly, small businesses adopting AI could contribute an estimated £470 billion to the UK economy by 2035.

The impact of prioritising these policy areas is substantial. With robust government support, UK SMEs can overcome obstacles and achieve sustainable growth, contributing to a thriving national economy. After all, the impact small businesses have on the economy is anything but small. 

Thank you to the new 2025 Intuit Small Business Growth Council members for their engagement: