Everything You Need to Know About Xero Beautiful Business Fund
Funding for your small business, powered by Xero. Applications are currently open and will close on October 6th.
If you’re new around here, you may not know the love affair we have with Xero just yet.
In fact, we’ve made an entire playlist about why you should drop QuickBooks Online and make the switch to Xero as soon as possible. You can watch that here.
We’re also Xero Gold Certified Partners, and recommend the intuitive software to pretty much every business owner we come across.
But in today’s blog, we’re talking about Xero in a different way.
They are providing funding opportunities to small business owners like you, and we’re here to give you all of the details so that you don’t miss out.
What is the Xero Beautiful Business Fund?
The Xero Beautiful Business Fund is a Xero initiative that offers funding to small businesses.
They’re offering over $400,000 in funding to Xero small business customers in Australia, Canada (excluding Quebec), New Zealand, Singapore, South Africa, the UK, and the US, to help finance future success and growth in your business.
There will be four winners from each country, each receiving around $12,000. Of those winners, four will become global winners who will receive an additional $30,000.
Who Qualifies to Win the Xero Beautiful Business Fund?
There are just a few qualifications that you need to meet in order to be eligible for the Xero funding.
- You or your accountant own and use a Xero license for your business. That’s right, even if your accountant holds the subscription, you’re still eligible!
- You have less than 50 employees
- You are located in one of these countries: Australia, Canada (excluding Quebec), New Zealand, Singapore, South Africa, UK, USA
- You are operating on a for-profit or not-for-profit basis
- You submit a 90-second pitch video and complete the application
What Do You Need To Do For The Application?
To apply for the Xero Beautiful Business fund, you will need to submit a 90-second pitch video and complete the full application.
In the 90-second video, you need to provide background on your business, why you need funding, which category you are applying for, and your future plans for the company.
After submitting the video, you will be prompted to answer a few application questions, including:
- Business name (this should match what is in your Xero subscription)
- Full name of individual submitting application (can be the business owner or an employee)
- Email address
- Phone number
- Registered business mailing address (please include the country)
- Country where you are based (this must match what is in your Xero subscription)
- Please upload a screenshot of your Xero dashboard with your business name (top of dashboard in menu bar), which will help us verify you are a Xero customer
- How many permanent employees does your business have at the time of your application submission?
- Were you referred to the Xero Beautiful Business Fund? If so, who were you referred by?
- Please list name, and if applicable, practice/firm name of your referrer
- Select one (1) entry category you are applying for
During the application form, you will be asked to apply in one or more categories.
There are four categories in seven countries and no limit on how many you can enter. If you think you qualify for each, go all out:
- Innovating for sustainability: For small businesses who want to take the next step on their sustainability journey. For example, it could be to move to sustainable packaging, implement energy-efficient equipment or carbon neutral transport. We want to see how you plan to take the next step on your sustainability journey.
- Trailblazing with technology: For small businesses seeking to innovate. This could include digitalising parts of your operations or integrating new emerging technologies. We want to see how you are setting pace with technological advancements.
- Strengthening community connection: For small businesses or non-profits who strive to give back to their communities. It could be to contribute to philanthropy, social good, or make an impact on the community in a meaningful way. We want to see how you are bringing people together and giving back to your community.
- Upskilling for the future: For small businesses seeking to support upskilling for themselves or their employees. This could include access to training and other professional development opportunities. We want to see how you are thinking ahead and preparing for the future.
What Are The Xero Beautiful Business Fund Judges Looking For?
The regional and global judging panels will be made up of a minimum of five judges.
The regional judging will occur first and each judge will assess the quality of shortlisted submissions based on these criteria and assign between 1-5 points for each question listed below (5 being the best).
Each judge will then add up all the points for each applicant and identify their top three highest-scoring submissions.
The totals from the top three highest-scoring submissions from each judge will be calculated to identify the regional winner in each category.
There will be a total of 28 regional winners, one from each region for each category that will be put forward to the global judging panel to conclude the global winner for each of the four categories.
The global judges will assess the 28 regional winners based on the same criteria and assign between 1-5 points for each question listed below (5 being the best).
From there, each judge will add up all the points for each applicant and identify their top three highest-scoring submissions.
The totals from the top three scorers from each judge will be calculated to identify the global winner in each category, for a total of four global winners.
- Does the applicant make the case for why they should receive funding? (5 points)
- Does the applicant share their personal story around why they got into business – are they thoughtful, passionate and genuine? (5 points)
- Does the applicant clearly demonstrate or explain how the funding could positively impact their business? (5 points)
Total points available: 15
Apply to the Xero Beautiful Business Fund Today!
We strongly recommend applying to the Xero Beautiful Business Fund as soon as possible.
Entries close on October 6, 2023!
You have nothing to lose except an hour of your time and could go on to receive over $40,000 of free money for your business. Simply by being a Xero user!
If you aren’t currently a Xero user, you can check out our page on Xero here, or reach out to us for more information.
We’re always happy to help!
Good luck and stay U-Nique!