Xero Blog

This article first featured in the Boss Insights 2021 report, Sole trader surge: small business in a post-COVID world.  Despite the challenges that 2020 brought, our latest research shows Australia has yet again proven to be an overwhelmingly resilient nation.

Small businesses are the backbone of every economy around the world. In Singapore, they make up 99% of all businesses, employ 65% of the country’s total workforce and contribute 48% of Singapore’s GDP.

Xero’s app marketplace has over 800 apps to help small businesses and their advisors succeed. Our ‘Get the Appvantage’ series brings to life how small businesses from around the world use apps to help them thrive.

Download the full Boss Insights 2021 report, Sole trader surge: small business in a post-COVID world. It’s hard to believe that when we launched our first Boss Insights report back in February 2020, the word ‘pandemic’ had barely entered our collective vocabulary.

Being a sole trader isn’t without its challenges, especially after the year that’s been. But for many, bravely going it alone is a chance to live their passion, be their own boss, and work towards financial independence.

The way we choose to work has been changing for a long time, but COVID-19 has accelerated this shift. The pandemic has changed many people’s priorities and encouraged them to take the leap into something new.

Growing your business can come with challenges, like continually adjusting your payroll systems as your team rapidly expands. To make things easy for you, we have developed a seamless integration with Talenox in Singapore and Hong Kong.

According to Gartner’s Labor Market Survey, finance and accounting fall short on diversity, ranking among the lowest of any corporate function. Xero is committed to helping develop Black professionals in accounting and finance, and to expanding its own pipeline of talent.

If you know me, there is nothing I like better than getting together with the Xero community of accountants, bookkeepers, small businesses and app partners.  Some of my favourite memories in the time I’ve been at Xero have been at our events, particularly Xerocons.