Empowering Small Business Dreams: Xero Unveils Inaugural Beautiful Business Fund with Over S$620,000 in Global Funding

Xero’s game-changing initiative, the Xero Beautiful Business Fund, is poised to revolutionize the small business landscape by providing substantial funding to support growth and innovation. Small business owners across several countries have the opportunity to vie for funding by showcasing their commitment to sustainability, technology, community engagement, and upskilling for the future.

23 August 2023 – Xero, the distinguished global small business platform, has set in motion a transformative chapter for small businesses worldwide through the inauguration of the Xero Beautiful Business Fund. This groundbreaking initiative, launched at Xerocon Sydney 2023, marks a pivotal moment as Xero extends its support to empower small enterprises, foster their growth, and celebrate their aspirations. With a remarkable pool of more than S$620,000 in funding, the fund opens doors for small business owners to propel their visions towards realization.

Designed to embrace Xero’s small business customers in various regions including Australia, Canada (excluding Quebec), New Zealand, Singapore, South Africa, the US, and the UK, the Xero Beautiful Business Fund seeks to acknowledge businesses with the courage to take their next strides across diverse dimensions of their operations.

Aspiring participants are greeted with accessible entry requirements. In Singapore, for instance, small business customers need to submit a concise 90-second video pitch and a brief written form highlighting their alignment with one or more of the fund’s categories:

  1. Innovating for Sustainability: Recognizing endeavors by small businesses to amplify their sustainability endeavors, which could range from sustainable packaging adoption to energy-efficient technologies.
  2. Trailblazing with Technology: Celebrating businesses that embrace innovation through digital transformation and the integration of emerging technologies.
  3. Strengthening Community Connection: Acknowledging the efforts of small businesses and non-profits to contribute positively to their communities, be it through philanthropy or meaningful community impact.
  4. Upskilling for the Future: Supporting small businesses dedicated to empowering their teams by facilitating upskilling and professional development, thereby nurturing a forward-focused workforce.

Each submission is expected to underscore the business’s forward-looking vision and elucidate how the allocated funding would catalyze their growth journey.

Sukhinder Singh Cassidy, the CEO of Xero, shared his enthusiasm for the fund, emphasizing the company’s commitment to uplifting small businesses: “We’re pleased to be awarding funds to help our customers take their next step in areas like sustainability or exploring new technologies, where they may not have had the cash to do so.”

In Singapore, a grand prize of S$15,000 awaits the winner in each of the four categories. Additionally, a supplementary S$40,000 incentive can be secured by a Singapore-based winner who attains a global prize. A regional panel of experts, including key figures from the Singapore Business Federation, Singapore Corporate Services, and the regional team of Xero, will evaluate the shortlisted submissions.

The chosen Singaporean winners, along with victors from other participating countries (totaling 28 winners), will then advance to the global judging panel. Comprising distinguished figures from the realms of accounting, small business, and Xero’s global partners, this panel will determine the global winner for each of the four categories.

Submissions for the Xero Beautiful Business Fund are open until October 6, 2023, and the eagerly anticipated announcement of winners is scheduled for later this year.

Author: Terry KS

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