Xero announces small business fund with R8 million in funding available

  • Xero has announced the impending launch of its global Beautiful Business Fund.
  • The fund will officially be launched at Xerocon Sydney in August.
  • It will look for entries by small businesses in Australia, New Zealand, Singapore, South Africa, the United States, Canada, and the United Kingdom.

Small business platform Xero has announced an impending initiative that will be of interest to the SMEs in regions where the company operates, with the Beautiful Business Fund set to launch soon.

This small business fund has as much as R8 million in funding available, and will be formally launched at the Xerocon event in Sydney on 23rd August.

“Xero Day – the anniversary of when it all started for Xero – is our opportunity to connect and celebrate our small business customers all around the world. This year, we are pleased to be launching the Xero Beautiful Business Fund to allocate funds to back small businesses in their future aspirations and help them achieve whatever success means to them,” noted Sukhinder Singh Cassidy, Xero CEO, of the fund’s launch.

“Designed to celebrate small businesses, empower success, and accelerate their growth, the Xero Beautiful Business Fund will be open to Xero small business customers in Australia, New Zealand, Singapore, South Africa, the United States, Canada, and the United Kingdom,” the company confirmed in a press release sent to Hypertext.

SMEs in the above regions will be able to apply for funding in one of the four following categories:

  • Innovating for sustainability: For small businesses who want to take the next step on their sustainability journey. It could be to move to sustainable packaging, implement energy-efficient equipment or carbon-neutral transport. 
  • Trailblazing with technology: For small businesses seeking to take the next step to supercharge their business by digitalising parts of their operations or integrating new emerging technologies.
  • Strengthening community connection: For small businesses or non-profits striving towards community connection. It could be to contribute to philanthropy, social good, or make an impact on the community in a meaningful way. 
  • Upskilling for the future: For small businesses seeking to support upskilling for themselves or their employees so they can access training and development to further grow.”

Xero explains that for each of the above categories, there will be seven regional winners identified by a judging panel. The pool of regional winners in each category will then be evaluated by a global judging panel and the winner of each category will receive an additional global prize. 

The application process, which includes both a written form and a short video submission, will open on 23rd August 2023 and close on 6th October 2023.

“Xero is providing an opportunity for customers to apply for funding to take their next step. Whether that be to support a passion to become a more sustainable business, upskill employees, philanthropic work in the community, or integrate the latest AI into their business, the fund is here to help small businesses meet their dreams,” the CEO added.

To find out more about the Beautiful Business Fund, head here.


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