Although Intuit’s Quickbooks holds the biggest share of small business accounting there’s plenty of room for other vendors reports AMI Partners.
With 550,000 new business being born every year and many existing businesses NOT using an accounting program this leaves plenty of space in the market for other vendors such as Microsoft, Avanquest (Small Business Pro) and many others.
AMI Partners writes In addition, small businesses typically update or change their accounting software every one to three years. Consequently, AMI-Partners forecasts that U.S. small businesses’ spending on accounting software will increase at roughly 5.2% CAGR through 2009. Accounting software is also the first strategic business application that many small firms purchase, making it an important on ramp for other solutions, which need to integrate with the accounting solution, and a first step towards higher end financial software.
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