There’s a great article today in Forbes on the topic that we obviously hold near and dear to our heart — the developer opportunity in small business.
In the article, Forbes writer Ben Kepes challenges the conventional wisdom that “the easier win” and “more lucrative opportunity” for entrepreneur developers is in “creating enterprise products”. Kepes explains that “while SMBs may not pay the multi-hundred thousand dollar license fees that enterprises do, there are millions and millions of SMBs in the world – a far larger market, numerically speaking, than the enterprise.”
This certainly speaks to our developer program and the opportunities for developers and entrepreneurs alike. The article focuses on some pertinent points for anyone interested in innovating and building an app for QuickBooks Online.
- The center of the small business cloud is financial management. Respondents already spend 4 hours/day online running their business.
- The top three online activities are: bookkeeping and accounting (65%), generating invoices and/or accepting payments (65%), and managing existing customer relationships (58%).
- SMBs are generally cash constrained; the typical SMB lives on a day-to-day cashflow basis. As such their receivables and payables, alongside their bank account balance, are the most critical part of their business.
Kepes observes that “it is for this reason that accounting software, perhaps the most boring SMB software that exists, gets so much attention.”
Read the entire article here.