Global Small Business Fund Launched to Empower and Support Future Aspirations

2 mins read

6 July 2023

Find out how this initiative is set to accelerate growth and celebrate the achievements of entrepreneurs globally.

Coinciding with Xero Day 2023, the renowned global small business platform, Xero, has unveiled a new initiative aimed at empowering and accelerating the growth of small businesses worldwide. The Xero Beautiful Business Fund, with a substantial funding of over SGD$620,000, has been introduced to celebrate small businesses and support their future aspirations.

The grand launch of the Xero Beautiful Business Fund will take place at Xerocon Sydney, scheduled for August 23-24, 2023. The fund will be open to Xero small business customers across multiple countries, including Australia, New Zealand, Singapore, South Africa, the United States, Canada, and the United Kingdom.

Small business owners in each country will have the opportunity to apply for funding in various categories tailored to their specific needs. The fund will be divided into the following categories:

  1. Innovating for sustainability: This category is designed for small businesses that wish to progress in their sustainability journey. Funding can be utilized for initiatives such as adopting sustainable packaging, implementing energy-efficient equipment, or achieving carbon-neutral transportation.
  2. Trailblazing with technology: Small businesses seeking to leverage technology to enhance their operations can apply under this category. The funding will support the digitalization of business processes or integration of emerging technologies, enabling these enterprises to thrive.
  3. Strengthening community connection: Small businesses and non-profit organizations striving to forge stronger community connections are encouraged to participate in this category. Funding can be directed towards philanthropic endeavors, social good initiatives, or community impact projects.
  4. Upskilling for the future: This category aims to support small businesses in their pursuit of upskilling opportunities for themselves and their employees. The funds will enable access to training and development programs, fostering further growth and expertise.

Each category will have seven regional winners selected by a regional judging panel. Subsequently, the pool of regional winners in each category will be evaluated by a global judging panel, which will determine the ultimate winner for each category, earning them an additional global prize.

Speaking about the initiative, Sukhinder Singh Cassidy, CEO of Xero, expressed, “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.”

Cassidy further emphasized the crucial role played by small businesses and stated, “We believe small businesses run the world and as champions of small business, 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, engage in 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 application process, which includes a written form and a short video submission, will be available starting from August 23, 2023. Small business owners interested in applying for the Xero Beautiful Business Fund should submit their applications before the closing date of October 6, 2023.

With the launch of this global small business fund, Xero continues its mission to provide essential support and resources to small businesses worldwide, enabling them to thrive, innovate, and realize their dreams.

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