Xero awards SG$630,000 to support small business vision

Xero has revealed the 28 winners of the 2024 Xero Beautiful Business Fund, awarding a SG$630,000 prize pool across various countries to promote the objectives of small businesses and non-profits.

Each winner from Singapore, along with others from Australia, Canada, New Zealand, South Africa, the UK, and the US, demonstrated their future business goals in a 90-second video presentation to compete in one of four categories: Innovating for environmental sustainability, Trailblazing with technology, Strengthening community connection, and Upskilling for the future.

From Singapore, four businesses won a share of the prize, each receiving SG$15,000 to support their ventures. These businesses include Seven Clean Seas, Tack One, Foreword Coffee, and Two Men Bagel House, each excelling in their respective categories.

Seven Clean Seas emerged as the winner in the Innovating for environmental sustainability category. The organisation works toward eliminating plastic pollution and empowering coastal communities, aiming to remove 10 million kilograms of plastic waste by 2025. The funds are allocated for acquiring washing equipment to clean recovered plastic more efficiently.

Tom Peacock-Nazil, CEO and Founder of Seven Clean Seas, expressed gratitude, stating, "We are truly honoured to have won the Innovating for environmental sustainability category for the Xero Beautiful Business Fund in Singapore. At Seven Clean Seas, our work in ocean conservation is crucial, especially as we remove vast quantities of plastic from vital ecosystems each month. One challenge we face is that a significant portion of this plastic is too contaminated for recycling. To address this, we plan to invest this grant in a large-scale cleaning system for our materials recovery facility. This will enable us to recycle far more plastic than before. We are incredibly grateful for this opportunity."

Tack One, an Internet of Things (IoT) innovation company, won in the Trailblazing with technology category. The company aims to solve real-world problems through technology, with a focus on a plug-and-play flood monitoring device. This device is designed to detect rising water levels and alert communities and authorities.

Justin Zhang, Co-founder of Tack One, commented, "This funding will critically enable us to amplify our production efforts to bring FloodFinder devices to more communities faster. There is no lack of great ideas and innovations in small business. However, the ever-present challenges in acquiring resources to both support and communicate them broadly can make it difficult to act on them. The Xero Beautiful Business Fund provides amazing support on both fronts. The fund offers an immediate boost enabling small businesses to implement innovation faster and on a bigger scale, along with the publicity and recognition that comes with winning will help us bring our innovation to more people and places."

In the Strengthening community connection category, Foreword Coffee stood out. The social enterprise champions disability inclusion through its cafes, with over 80% of its employees identifying with a disability or mental health issue. The funds are aimed at subsidizing their training centre to upskill staff.

Nadi Chan, Co-founder and Director of Foreword Coffee, said, "The fund gives us a much-needed capital boost, enabling us to increase our community impact while offering members new opportunities to develop and grow. Being recognised by a globally reputable and recognised company such as Xero also adds significant credibility to a small business like ours. Finally, it is incredibly heartening to be recognised for the work we are doing."

Two Men Bagel House, which offers artisanal bagel sandwiches, claimed the prize in the Upskilling for the future category. With plans for foreign expansion, the eatery will use the funding to enhance the skills of its team in both hard and soft areas.

Clement Fu, Co-owner of Two Men Bagel House, noted, "The fund means a lot to us. It will help enable us to train and develop our key personnel with skills needed to manage foreign markets as we expand overseas. Initiatives like the Xero Beautiful Business Fund are incredibly impactful for small businesses like us, because whether you are an SME growing organically or trying to raise funds, it takes time to build your reputation and recognition of work and service. We grew to five outlets only after 10 years of operating, mostly funded by business revenue and it has not been easy. By providing new opportunities and support, Xero has shown they are committed to Singapore's small business community. We are really thankful to have won and the opportunities we have as small business owners."

Sukhinder Singh Cassidy, Xero CEO, praised the winners, stating, "Xero is proud to support all of the winners of the 2024 Xero Beautiful Business Fund. Your passion, ambition, and commitment to your communities truly embodies the spirit of what the fund is all about. Congratulations to our winners and thank you to all the entrants for sharing your stories and inspiring us as we pursue our purpose to make life better for small businesses, their advisors and communities worldwide."

Koren Wines, Managing Director, Xero Asia, remarked on the calibre of submissions, stating, "The calibre of submissions we received this year is a testament to the ingenuity, perseverance and resilience of Singapore's small business community. As a former small business owner, I can relate firsthand to incredible challenges that come with running a business, particularly in today's competitive environment. We created the Xero Beautiful Business Community and Fund to continue to meaningfully support Singapore's small businesses and facilitate their growth. Congratulations to all our winners, and we look forward to working together to build an inclusive, resilient, and innovative Singapore economy."