Xero Blog

Marnus Broodryk is a Shark Tank SA Investor and Xero Gold Partner We’re in the golden age of small business. Gone are the days when you needed expensive desktop software and servers to house it on, to do business.

We recently kicked off the Xero – TradeGecko SME Success Series in Singapore. We’ve teamed up to run a four-part event series to help Singapore’s SMEs get the most out of working in the cloud.

I remember the response my old college accounting teacher gave when I told him I was working for Xero…he laughed! I know why too. In college I wasn’t particularly good at accounting.

South Africa’s small businesses make a massive contribution to the national interest. They account for 52% of the country’s GDP, and are an essential part of its short-term economic growth and long-term economic health.

Ask any Singaporean (and most foreigners) about New Ubin Seafood, and you’ll almost certainly be met with gushing praise for this local gem. Established in its namesake first home, Pulau Ubin, a small island off Singapore, the original New Ubin Seafood served up traditional kampong-style seafood.

Working with small businesses throughout the world, I’ve come to realise the world we live and work in is much smaller than we think. Speaking at Xerocon 2017 in Melbourne I shared my thoughts on how small businesses are operating globally with the big advancements in technology and connectivity.

Launching the first in a next generation of bank feeds, this week we announced our integration with Santander. The first bank in the UK to take advantage of our open platform, this feed will enable our joint customers to effortlessly move financial data from their bank accounts to Xero, free of charge.

South Africa’s entrepreneurial community has endured much uncertainty and instability of late and many small business owners believe it shows no signs of abating. According to our 2017 State of Small Business report, 62% of South Africa’s small business owners have noticed a reduction in consumer demand over the year so far, and 68% say economic volatility is their biggest business challenge.

Keeping the cash flowing is one of the biggest challenges many businesses face. In fact, financial issues are to blame for 65% of business breakdowns in the first five years. The good news is that setting good habits early on can make all the difference and can be the key to business success.