Intuit’s inaugural 2023 QuickBooks Small Business Index Annual Report brings to light small businesses’ profound challenges in the US, Canada, and the UK. The report analyzes the effects of macroeconomic pressures’ effects on small business operations, job creation, and their quest for funding, such as inflation and soaring interest rates. This report is carried out in collaboration with renowned global economist Professor Ufuk Akcigit. Small businesses, the backbone of economies worldwide, are feeling the weight of financial challenges now more than ever. With this report, Intuit goes into the current state of these businesses across the three major regions. To help steer these businesses and their advisors in the right direction, Intuit has curated actionable recommendations based on the report’s findings. Policymakers, accountants, and small business owners can leverage these insights for fostering an environment conducive to growth and resilience in these challenging times.