A new initiative from global small business platform Xero is offering small businesses a chance to win a better future, with $80,000 (four New Zealand prizes of $20,000) available alongside a wider global prize pool.
The Xero Beautiful Business Fund has been set up to celebrate small businesses, empower success, and help accelerate their growth. It is open to Xero small business customers across Aotearoa New Zealand, with submissions closing October 6, 2023.
“After a challenging few years for our small business community, we’re excited to be able to support them to further invest in their own future success in the inaugural year of our Xero Beautiful Business Fund,” says Bridget Snelling, Xero Country Manager - NZ.
Snelling points out it can be difficult for small businesses, who often wear ‘multiple hats’ and work hard on core products or services, to find the time or funds to focus on new and aspirational projects. Often the day-to-day work of running a small business means there’s little time or energy left over, and they can find themselves falling behind in long-term market trends or losing connection with their purpose.
“We want to celebrate their hard work and give them the ability to take their business to the next level.”
Fund submissions are made via a 90s pitch video and a brief written form for each of the categories a business chooses to enter: sustainability, technology, community, and upskilling. All entries should be future-focused and show how the funding would benefit the small business.
The Innovating for sustainability category is for small businesses who want to take the next step on their sustainability journey. It could be, for example, a move to sustainable packing, implementing energy-efficient equipment, carbon neutral transport, or something else.
Trailblazing with technology is for small businesses seeking to innovate. This could include, for instance, digitising parts of their operations or integrating new emerging technologies.
Small businesses or non-profits who strive to give back to their communities could enter the Strengthening community connection category. This could be contributing to philanthropy, social good, or making an impact on their community in a meaningful way.
Upskilling for the future could be a category for upskilling business owners or employees, including access to training and other professional development opportunities.
“Each of these categories are top of mind for many businesses at the moment, so we anticipate seeing entries from people with a great deal of passion for what they want to achieve.” Snelling says. “I am looking forward to reviewing the entries, and I know judging will be tough.”
There is a global pool of $750,000 up for grabs across Australia, Canada (excluding Quebec), Singapore, South Africa, the US, and the UK, as well as New Zealand, where small businesses have a chance to score $20,000 in each of the categories. There will also be four global winners, giving businesses the chance to win an additional $50,000.
Alongside Snelling, the local judging panel in Aotearoa New Zealand includes Auckland Business Chamber CEO Simon Bridges, 1Centre Founder & CEO Miriana Lowrie, Plugin Accountant Limited CEO Sue de Bievre, and Xero employee, Maarten Idema.
The Xero Beautiful Business Fund wants to empower the success of small businesses in New Zealand and across the globe and accelerate their growth. You can enter more than one category, with a different entry for each. Focus on what you want the future of your business to look like, and let the panel know how the funding would help you achieve those goals.
If sustainability, technology, community, or upskilling sparks your interest or could help you work towards your next business goal, enter here.