How AI-technology can supercharge SME growth
Helping small businesses succeed is personal for us. Every small business owner wears multiple hats - from CEO, CFO and CMO to stocking shelves and delivering orders. Intuit’s AI platform empowers small businesses to do more by serving personalised insights, providing expert advice, and helping owners make informed financial decisions.
In the UK, 99% of businesses are small or medium-sized enterprises (SMEs), and they account for 61% of all employment. They power local communities and are responsible for around 40–70% of gross domestic product (GDP) worldwide. Yet, many UK SMEs are falling behind in their use of digital tools.
Research from Be the Business indicates that while UK companies prioritize management and technology adoption, their investment levels lag behind other G7 nations and this threatens their ability to compete in the global marketplace. If the UK’s 1.1m micro businesses doubled their uptake of digital tools, it would lead to a productivity boost of £16.6bn.
Boosting growth and productivity
As a global technology platform powering prosperity for millions of SMEs, we understand how embracing these technologies can remove drudgery so small business owners can be more productive and focus on the work they love doing.
In QuickBooks, we’re using AI to help simplify business operations by automating, predicting, and personalising our customers’ experience. AI helps small business owners make more money with less work while giving them confidence in their actions and decisions.
In Mailchimp, we’re leveraging AI-powered tools to help businesses create engaging content quickly and easily leverage tools that suggest more click-worthy subject lines and headers to help small businesses create personalised experiences at scale and boost revenue.
Our Intuit QuickBooks Small Business Index Annual Report found a direct correlation between increased use of AI-powered digital tools and employment and revenue growth. SMEs leveraging multiple digital tools reported double the revenue growth and triple the workforce growth of those who don’t.
Smarter policies
To address the challenges identified in techUK’s upcoming report “Small Enterprises, Big Impact”, and unlock the full potential of UK SMES, we follow key recommendations and urge the government to continue to push ahead with flagship digitisation programmes, like Making Tax Digital, as well as going further to implement more policies that help SMEs harness the power of digital and AI tools.
This starts with implementing a comprehensive digital adoption plan with clearly defined targets by 2030. Doing so will provide the right signals and longer-term certainty for businesses, especially SMEs, who often lack time and resources. Setting concrete targets, similar to those contained within the EU’s Digital Decade programme, would help to focus both public and private sector resources and drive-up rates of tech adoption.
SMEs can benefit immensely from leveraging AI technology — but this technology is rapidly evolving, and many don’t know where to turn for resources to help them understand the risks and benefits. Coupling digitisation targets with the right incentives and support schemes will help small business leaders to overcome these barriers. The government can play an important role by introducing tax credits or deductions for SMEs who are looking to invest in approved digital and AI technologies, as well as by providing access to training and skills resources.
The path forward
The digital transformation of SMEs is not just an imperative — it's an opportunity to build a more resilient, innovative, and competitive economy. By driving up AI and tech adoption rates, the government can unleash the full potential of the UK's entrepreneurial spirit and achieve the highest growth in the G7.
Ciarán Quilty - SVP International, Intuit
Ciarán is the Senior Vice-President for International at Intuit and has passion for scaling SME and business growth globally through technology.
techUK Digital Economy Team:
Samiah Anderson
Samiah Anderson
Samiah Anderson is the Head of Digital Economy at techUK, overseeing the Digital Economy programme, which promotes how the UK digital economy and innovation can drive sustained economic growth.
With over six years of Government Affairs expertise, Samiah has built a solid reputation as a tech policy specialist, engaging regularly with UK Government Ministers, senior civil servants and UK Parliamentarians.
Before joining techUK, Samiah led several public affairs functions for international tech firms and coalitions at Burson Global (formerly Hill & Knowlton), delivering CEO-level strategic counsel on political, legislative, and regulatory issues in the UK, EU, US, China, India, and Japan. She is adept at mobilising multinational companies and industry associations, focusing on cross-cutting digital regulatory issues such as competition, artificial intelligence, and more.
She holds a BA (Hons) in Politics, Philosophy, and Economics from the University of London, where she founded the New School Economics Society, the Goldsmiths University chapter of Rethinking Economics.
- Email:
- [email protected]
- Website:
- www.techuk.org,www.techuk.org
- LinkedIn:
- https://www.linkedin.com/in/samiahnanderson/
Mia Haffety
Mia Haffety
Mia joined techUK in September 2023.
Mia works to ensure that the UK policy and regulatory environment promote investment into the tech sector, recognising the role of digital and emerging technology towards future growth and productivity.
Prior to joining techUK, Mia worked as a Senior Policy Adviser at the Confederation of British Industry (CBI) within the Policy Unit.
Mia holds an MSc in International Development from the University of Manchester and a BA(Hons) in Politics and International Relations from the University of Nottingham.
- Email:
- [email protected]
- LinkedIn:
- https://www.linkedin.com/in/miahaffety/
Oliver Alderson
Oliver Alderson
Oliver is the team assistant for the Policy and Public Affairs teams, joining techUK in November of 2023. He assists the teams admistrative support, communication, and event production.
Prior to working at techUK, Oliver studied at Swansea and Bristol universities, attaining a masters in Policy Research. During this time he competed in debating competitions around the country where he discussed and deliberated various policy issues. Between his studies Oliver acted as a student assistant in mental health research for the SMaRteN student network.
- Email:
- [email protected]
- Phone:
- 07505 890 596
- LinkedIn:
- https://uk.linkedin.com/in/oliver-alderson-a51312180