Global Support for Small Businesses: Xero Announces 2024 Beautiful Business Fund

Xero, the global small business platform, has announced the return of the Xero Beautiful Business Fund for 2024. This initiative aims to provide over $460,000 in funding to support small businesses and non-profits’ growth plans and facilitate future success. 

Entries for the fund are now open to Xero small business customers in Australia, Canada (excluding Quebec), New Zealand, Singapore, South Africa, the United Kingdom, and the United States. The entry period will close on August 27, 2024, NZT.

Xero small business customers interested in participating must complete an online form and submit a 90-second pitch video to the competition website. Participants can enter as many categories as they like.

The fund includes several categories. “Innovating for Environmental Sustainability” is for businesses or non-profits aiming to reduce their environmental impact, enhance the sustainability of their products or services, or develop new environmentally friendly products.

The “Trailblazing with Technology” category targets organizations with a future-focused mindset that seeks to innovate and lead with new and emerging technologies.

“Strengthening Community Connection” is for businesses or non-profits dedicated to serving their communities, supporting underserved groups, or contributing to social good through innovative solutions. The “Upskilling for the Future” category supports those looking to address skills gaps by providing greater access to training and professional development for themselves or their employees.

“As a global judge last year, getting to hear firsthand from our small business customers about their ideas and aspirations was a rewarding experience that reminded me of the resilience, drive and determination it takes to be a business owner.”

“The fund is a chance to reflect on our purpose to make life better for small businesses, their advisors and communities around the world and provide meaningful support so our customers can fulfill their dreams or take that next big step with confidence,” said Sukhinder Singh Cassidy, Xero Chief Executive Officer.

The inaugural Xero Beautiful Business Fund was first launched on July 6, 2023, to coincide with Xero Day, the company’s anniversary. The fund aims to celebrate and support small businesses and non-profits that are making a positive impact in their communities.

The 2023 winners from Singapore represent a diverse range of businesses dedicated to solving problems and creating positive change. These include a clothing rental service aimed at reducing the environmental impact of fast fashion, a social video agency helping businesses grow in the digital economy, a Traditional Chinese Medicine (TCM) clinic using modern technologies to improve healthcare outcomes, and an organization promoting art appreciation to strengthen local art networks.

The total prize pool of more than SGD 630,000 ($466,720) will be distributed among 28 winners. Each country will have four winners, one in each category, selected by local judging panels, with each receiving SGD 15,000 ($11,112). Additionally, four global winners will be chosen by a global judging panel and awarded an extra SGD 40,000 ($29,633).

Xero is a global small business platform with 4.2 million subscribers. Its tools assist small businesses and their advisors in managing accounting functions such as tax and bank reconciliation, along with payroll and payments. Xero’s extensive app ecosystem and connections to financial institutions offer comprehensive solutions to help small businesses operate efficiently and manage their finances effectively.

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