Intuit: an instinct for business

Intuit, the tax and accounting-software firm, is perfectly placed to profit from the spread of self-employment

Many hope that Covid-19 lockdowns will lead to a permanent shift to more working from home. In fact, people have been opting for different ways of working for years. Hordes of entrepreneurs didn’t need a pandemic to ditch the daily grind and set out to work where, when and how they wanted. They just got on with it.

The success of growing numbers of small businesses, entrepreneurs, freelancers and the self-employed provide a tailwind for Intuit (Nasdaq: INTU), which sells tax and accounting software. It is worth $146bn today, but in the early 1980s it was a kitchen-table start-up in San Francisco. It designed its first software package – Quicken – to help US taxpayers with their official returns. This was before Windows was even launched.

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Investment columnist

Stephen Connolly is the managing director of consultancy Plain Money. He has worked in investment banking and asset management for over 30 years and writes on business and finance topics.