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HomeStartup NewsXERO Beautiful Business Fund 2 Launched to Support Singapore's Small Businesses

XERO Beautiful Business Fund 2 Launched to Support Singapore’s Small Businesses

The Xero Beautiful Business Fund, an initiative providing more than SGD 630,000 ($466,720) in cash to support small businesses and non-profits with their growth goals and help drive future success, is returning in 2024, according to Xero, a small business platform located in New Zealand.

Xero announced that small business clients of Xero in Australia, Canada (except Quebec), New Zealand, Singapore, South Africa, the United Kingdom, and the United States are now eligible to apply for the Xero Beautiful Business Fund.

The announcement states that the entrance period would end on August 27, 2024.

Customers of Xero for small businesses will have to fill out an online form, record a 90-second pitch video, and upload it to the competition website for as many categories as they want to compete in.

Among these categories is “innovating for environmental sustainability,” which is intended for small businesses or nonprofit organizations that wish to advance in their environmental sustainability efforts by reducing their personal environmental impact, improving the sustainability of their current offerings, or creating brand-new, ecologically friendly goods and services.

Another category is “trailsblazing with technology,” which is intended for small businesses or nonprofit organizations that are innovative and have a “future focus.” These companies aim to use cutting-edge technologies to lead the way and set the pace.

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Another area is “strengthening community connection,” which is intended for small businesses or nonprofit organizations with a core goal of positively impacting and serving their communities. It can be to improve the community they work in, aid marginalized or underprivileged populations, or further social good by creative solutions or ideas.Read

Upskilling for the future is another category, meant for small businesses or nonprofit organizations who wish to close a skills gap by upskilling their staff members or themselves. These organizations envision a future where professional growth and training will be more widely accessible.

“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,” said Sukhinder Singh Cassidy, Xero Chief Executive Officer.

It is mentioned that on July 6, 2023, the first Xero Beautiful Business Fund was introduced.The Singaporean 2023 winners are a collection of nonprofit organizations and small companies committed to resolving issues and improving their local communities.

They include a clothing rental service that reduces the environmental impact of fast fashion, a social video agency that helps businesses grow in the digital economy, a Traditional Chinese Medicine (TCM) clinic that uses modern technology to improve healthcare outcomes, and an organization that promotes art appreciation and strengthens local art ecosystem networks.

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The announcement states that 28 winners will split the more than SGD 630,000 ($466,720) prize pool.Local judging panels will select four winners from each country, one for each category. The winners will each receive SGD 15,000 ($11,112).

A global judging team will select four of those winners to be the global winners, and each global winner will get an extra SGD 40,000 ($29,633).With 4.2 million users worldwide, Xero is a platform for small businesses.

The company’s clever solutions assist advisers and small businesses in handling essential accounting procedures like bank reconciliation and tax management, as well as other crucial small business duties like payroll and payments.

Small businesses can benefit from a variety of solutions offered by Xero’s open platform, which includes connections to banks and other financial institutions and a wide ecosystem of connected apps that facilitate efficient business operations and financial management.

About XERO

Xero, a global small business platform with 3.5 million customers, offers fundamental accounting, payroll, workforce management, spending, and projects. Small businesses can use Xero’s open platform to manage their finances and run their business using its broad network of connected apps and bank and financial institution connections.

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