As part of its ongoing commitment to bring data driven insights to individuals and small businesses, Intuit has launched the Intuit Small Business Revenue Index, the first in the market to provide current information on monthly small business revenue. The Revenue Index covers the period from January 2005 through March 2012 and pulls anonymized, aggregated data from 200,000 small businesses, a subset of users that use QuickBooks Online. It complements Intuit’s existing monthly Small Business Employment Index.
Together, the indices provide a more complete picture of the economic health of the nation’s small businesses based on revenue, hiring and compensation trends. In short, small businesses get a better understanding of how they are doing compared to others.
This month’s index reveals that small businesses were hard hit by the downturn, and are just starting to reach pre-recession revenue levels. Industry-level analysis shows that different sectors of small business were hit harder than others, and at different points in the recession.
For example, small businesses in the professional, scientific and technology fields fared the best through the downturn, and despite a big decline starting in late 2008, now have revenues that exceed pre-recessionary levels. Meanwhile, revenues for the real estate and construction industries began falling in 2007 and have seen little recovery.
To learn more about the monthly indexes, visit http://index.intuit.com/