Intuit joins GoFundMe, Yelp to provide small-business relief
Intuit, along with GoFundMe and Yelp, has co-founded an initiative to help small businesses raise money to meet challenges caused by COVID-19. The Small Business Relief Initiative is designed to get money in the hands of small businesses specifically struggling to pay employees and business expenses during the pandemic.
Due to curfews, shelter-in-place mandates, and social distancing guidelines, businesses across the country in many sectors have been forced to close their doors. The hope is that this shuttering will be temporary, but in the meantime, businesses are struggling to pay employees. Employees that have already lost income has led to domino effects such as rent strikes and general lack of spending in the economy.
The Small Business Relief Initiative connects GoFundMe’s social fundraising platform with Intuit QuickBooks’ accounting and financial expertise to provide local businesses with the resources and tools they need. As part of the initiative, GoFundMe has also launched a Small Business Relief Fund. GoFundMe and Intuit QuickBooks will be providing a direct donation to the relief fund.
The Small Business Relief Initiative runs on GoFundMe’s social fundraising platform. Small businesses can create a GoFundMe and start raising money immediately to help them during these uncertain times. QuickBooks is also driving distribution and awareness of the initiative across its small-business network and associated brand channels.
"Small businesses need relief today to manage their cash flow,” Intuit QuickBooks’ executive vice president and general manager Alex Chriss said in a statement. “By joining forces with GoFundMe, we can connect millions of small businesses and their local communities. We're helping to give the community a platform to quickly put cash in the hands of small businesses who need it the most."
"With the COVID-19 pandemic affecting all of us, many small businesses are being forced to shut their doors," said Tim Cadogan, GoFundMe CEO, also in a statement. "Our goal with the Small Business Relief Initiative is to help small businesses. By partnering with QuickBooks, we can get these tools directly in the hands of the largest small-business network in the world and empower their communities to rally behind them. Local businesses provide jobs and are often the heart and soul of a community."
How to help:
Intuit QuickBooks Small Business Help site: QuickBooks is providing their network of seven million small businesses with a tools and resources site that directs users to either start their own fundraiser or support an existing one. Through the QuickBooks platform, small businesses are connected directly to a method of fundraising should they need it. From there, small businesses can share their story and request help covering employee-related and business expenses. Then everyone — friends, family, neighbors, companies — can all search the Relief Initiative site to find small businesses in need and donate directly to them.
GoFundMe.org Small Business Relief Fund: GoFundMe.org, the nonprofit and charitable arm of GoFundMe, has launched the Small Business Relief Fund where people can donate to support the overall initiative. Until the fund is depleted, donations to the relief fund will be paid out as one-time $500 matching grants to qualifying small businesses that created a fundraiser through the Small Business Relief Initiative or already had an existing GoFundMe. For fundraisers started prior to March 24 or outside of this partnership, the organizer can update their fundraiser description with the hashtag #SmallBusinessRelief to receive an email explaining how they can apply for a grant from the Small Business Relief Fund.
All donations to the Small Business Relief Fund will be collected and administered by GoFundMe.org, the advocacy and charitable arm of GoFundMe. GoFundMe.org is a tax-exempt public charity, registered in the United States (EIN 81-2279757). Donations are tax-deductible, to the extent allowed by law.
GoFundMe Centralized Fundraiser Hub for Small Businesses: For people looking to support and donate to a local business, GoFundMe has created a new small-business centralized hub that identifies verified fundraisers that people can search by business name or location. Fundraisers started through the Small Business Relief Initiative and those created prior to this announcement will be included in the hub.
Corporate donations: If you are a corporation looking to donate to this fund and providing a matching incentive, please email firstname.lastname@example.org for more details.
The Small Business Relief Initiative will continue to expand with additional partners, product features, and corporate donors in the coming weeks.