Xero has recently unveiled the recipients of the 2024 Beautiful Business Fund, distributing an impressive SG$630,000 across 28 winners from various countries. This initiative aims to bolster small businesses and non-profits, encouraging innovative approaches and community engagement. Each winning business submitted a 90-second video to showcase their ambitions, competing in four specific categories: Innovating for environmental sustainability, Trailblazing with technology, Strengthening community connection, and Upskilling for the future.
Among the notable winners from Singapore are Seven Clean Seas, Tack One, Foreword Coffee, and Two Men Bagel House. Each of these businesses received SG$15,000 to support their unique endeavors, underscoring the potential impact of targeted funding in the small business sector.
Innovating for Environmental Sustainability: Seven Clean Seas
Leading the way in environmental innovation is Seven Clean Seas, which won the category for innovating for environmental sustainability. This organization tackles the pressing issue of plastic pollution, aiming to remove 10 million kilograms of plastic waste by 2025 while empowering coastal communities. The grant will be allocated toward acquiring advanced washing equipment to enhance their ability to clean the recovered plastic efficiently.
Tom Peacock-Nazil, CEO of Seven Clean Seas, expressed his gratitude, stating, “Our work in ocean conservation is vital. With this funding, we can implement a large-scale cleaning system for our materials recovery facility. This will significantly increase the amount of plastic we can recycle.”
Trailblazing with Technology: Tack One
Another standout is Tack One, recognized for their innovation in technology with their IoT-based flood monitoring device. This device, designed to detect rising water levels and alert local communities, won them the Trailblazing with technology award. Tack One’s Co-founder, Justin Zhang, highlighted how the funding will expedite their production and reach more communities. “The challenges in acquiring resources can stifle innovation, but the Xero Beautiful Business Fund provides crucial support,” he stated.
Strengthening Community Connection: Foreword Coffee
In the Strengthening community connection category, Foreword Coffee shone with its commitment to disability inclusion. This social enterprise employs over 80% of individuals who identify with a disability or mental health issue. The awarded funds will help subsidize their training center, enabling further employee development. Co-founder Nadi Chan emphasized the importance of this recognition: “Being acknowledged by Xero increases our credibility and allows us to strengthen our community impact.”
Upskilling for the Future: Two Men Bagel House
Lastly, Two Men Bagel House earned accolades for its plans to upscale its team’s skills in both hard and soft areas as they look towards foreign expansion. The funding will be instrumental in preparing their staff for the demands of international markets. Co-owner Clement Fu shared, “The Xero Beautiful Business Fund is vital for small businesses aiming to grow. The support encourages us and ensures recognition of the hard work we put into our service and product quality.”
Conclusion
In a competitive landscape where small businesses often face significant challenges, initiatives like the Xero Beautiful Business Fund play an essential role in fostering innovation and community impact. Xero CEO Sukhinder Singh Cassidy noted the passion and ambition displayed by the winners, embodying the spirit of the fund. Koren Wines, Managing Director of Xero Asia, also remarked on the outstanding submissions, highlighting the resilience and ingenuity of Singapore’s small business community.
As these businesses utilize their grants to drive meaningful change, the broader implication is clear: targeted support can galvanize small enterprises, empower employees, and address pressing social and environmental issues. This initiative not only showcases the potential of small businesses but also serves as a model for future funding programs aimed at nurturing sustainable and inclusive growth.
Xero’s commitment to supporting small businesses illustrates a blueprint for community-focused entrepreneurship, reminding us of the vital role these enterprises play in society.