Xero turns 18, opens doors to $700K in funding for innovative SMEs

In celebration of its 18th anniversary and Xero Day, the global small business platform Xero announces the return of the Xero Beautiful Business Fund for 2024.

This AUD$700,000 initiative empowers small businesses and non-profits with vital funding to fuel their growth plans and achieve success.

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

Xero small business customers will need to complete an online form and record and submit a 90-second pitch video to the competition website for as many categories as they would like to enter: 

● Innovating for environmental sustainability — For a small business or non profit who wants to take the next step in their environmental sustainability journey by: minimising their own environmental impact; enhancing the sustainability of current products and services; or developing new environmentally friendly products and services. 

● Trailblazing with technology — For a small business or non profit that has a ‘future focus’ mindset and is seeking to innovate. These organisations want to set the pace and lead the charge using new and emerging technologies. 

● Strengthening community connection — For a small business or non profit that has a mission or purpose rooted in serving their communities and making a positive impact. It could be to make a difference in the community they serve, support underserved or marginalised groups or contribute to social good through innovative ideas or solutions. 

● Upskilling for the future — For a small business or non profit that wants to overcome a skills gap, either through upskilling themselves or their employees. These organisations see a path forward with greater access to training and professional development. 

Sukhinder Singh Cassidy, Xero CEO, said: “We’re thrilled to offer the Xero Beautiful Business Fund again in 2024. As a global judge last year, getting to hear first hand 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.”

Regional and global prize winners 

The total prize pool offering of AUD$700,000 will be shared among 28 winners. There will be four winners from each country (one in each category), determined by local judging panels, and each winner will receive AUD$20,000. Of those 28 winners, four will become global winners, determined by a global judging panel, and each global winner will receive an additional AUD$50,000. 

The 2023 global winners were from Australia, US, New Zealand and the UK and represented a group of small businesses and non profits passionate about solving problems and making an impact in their local communities. They cover a diverse range of businesses such as: a charity and volunteer organisations tackling childhood poverty, a food buying club connecting local growers and producers to customers, a lighting design and manufacturing business and more. 

Kathy Wilson, Co-Owner of Brisbane vinyl record pressing plant, Suitcase Records, and 2023 Australian winner in the Innovating for environmental sustainability category, shared: “The Xero Beautiful Business Fund has kickstarted our mission to pioneer low carbon compound vinyl records, and we are proud to now be amongst the most sustainable record pressing plants in Australia, and the world.” 

Anthony Drury, Managing Director ANZ, Xero, said: “As the Xero Beautiful Business Fund returns for its second year, we are excited to continue Xero’s commitment to supporting and celebrating Australia’s incredible small business community. By recognising the innovation, philanthropy and exceptional work of our valued customers, we hope that this year’s Xero Beautiful Business Fund will help four deserving businesses meet their dreams.” 

For full criteria, details on how to enter and 2023 winner profiles, please visit our website. Submissions will close on 27 August 2024 NZT and winners will be announced at the end of October 2024. 

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