Xero launches Xero Business Fund

Xero, a leading global platform for small businesses, has launched the 2024 Xero Beautiful Business Fund.

This initiative offers over R8 million in funding to support small businesses and non-profit organizations in achieving their growth goals and driving future success.

The competition is open to Xero’s small business customers in South Africa, Australia, Canada (excluding Quebec), New Zealand, Singapore, the United Kingdom, and the United States. Submissions are accepted until August 27th, 2024 (NZT).

Four award categories

Entrants can compete in one or more of the following categories:

• Innovating for environmental sustainability:

  This category recognizes businesses or non-profits that are taking steps to minimize their environmental impact, enhance existing sustainability practices, or develop new eco-friendly solutions.

• Trailblazing with technology:

  This category rewards businesses or non-profits demonstrating a forward-thinking approach by utilizing new and emerging technologies to drive innovation.

• Strengthening community connection:
  
  This category acknowledges businesses or non-profits dedicated to serving their communities and making a positive social impact. This could involve supporting underprivileged groups, fostering community involvement, or developing innovative solutions for social good.
• Upskilling for the future:
  
  This category supports businesses and non-profits looking to bridge skill gaps by investing in training and development opportunities for themselves or their employees.

  Investing in Small Business Dreams

  “We’re thrilled to bring back the Xero Beautiful Business Fund after a successful inaugural year,” said Colin Timmis, Country Manager for Xero South Africa.

  “Our research shows that access to funding remains a significant barrier for small businesses, despite their ambitious goals. The Xero Beautiful Business Fund aims to empower businesses to take the next step and invest in their future.”

Success stories

The 2023 Xero Beautiful Business Fund awarded funding to several inspiring organizations.

Mygrow, a neuroscience-based software that enhances employee emotional intelligence, won the “Trailblazing with technology” category. Curate, a platform connecting content creators with clients, won the “Upskilling for the future” category.

Additionally, Constantia Food Club, an organization connecting local producers with consumers, received funding in the “Innovating for Sustainability” category.

Sheryl Ozinsky, co-founder of The Oranjezicht City Farm Market and the 2023 “Strengthening community connection” winner, shared how the funding helped their organization: “Winning the Xero Beautiful Business Fund allowed us to develop resources to support the growth of farmers’ markets in South Africa, ensuring more organic farmers have a platform to sell directly to consumers.”

Competition structure and timeline

A total of R8 million will be distributed among 28 regional and global winners. Each country will have four category winners (awarded R250,000 each), selected by local judging panels.

A global judging panel will then select one overall winner from each category, awarding an additional R550,000 each.

For detailed entry criteria, instructions, and profiles of the 2023 winners, visit the Xero website.

Entries close on August 27th, 2024 (NZT), with winners announced in late October 2024.

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