Xero Blog

It’s often said that (almost) no one goes into business to do their own accounting. So it’s no surprise that many entrepreneurs lean heavily on a trusted advisor for support, particularly around busy times like EOFY when tax, compliance, payroll and other business obligations come into play. 

With the busy summer season approaching in the northern hemisphere, many small businesses are gearing up for the busiest time of the year. And while the increase in customers provides a nice boost in revenue, the summer months also bring unique challenges. 

Today we announced Xero’s full year financial and operating results to 31 March 2023 (FY23).  Having started my journey as Xero’s CEO in February this year, I’m pleased to share our strong FY23 operating results, and I’m deeply excited about our opportunity to help power the global small business economy.

When it comes to productivity, it’s no secret Aotearoa New Zealand lags heavily behind our OECD counterparts. In fact, our recent research shows Kiwis would need to work 20 percent more to reach the average OECD GDP output.

Xero wouldn’t be where it is today without the support of our partner community, and that includes our  Xero Partner Advisory Council (XPAC). That’s why we’re thrilled to announce our latest XPAC cohort for Australia. 

There are plenty of positives to owning a small business – flexibility, being your own boss, financial benefits, and many more. But, it’s no secret there are challenges too. And small business owners have had a particularly tough few years: navigating a global pandemic, various lockdown restrictions, staff shortages, increasing costs of raw materials, and high inflation. 

The Xero Responsible Data Use Advisory Council recently held its seventh meeting, with a focus on the extraordinary developments in the field of generative AI, and the myriad potential applications for small business. 

The driving force for many small business owners when choosing to start their own businesses is to improve their lifestyle, but how does small business owner wellbeing actually fare? That’s what we set out to find out in our new report released today: The global state of small business owner wellbeing. 

More and more businesses are focusing on sustainability, and for good reason. Not only do many small business owners personally feel it’s important to play a role in protecting the environment, doing so is proven to have a positive impact on their bottom line.