“Xero is working with many more big businesses to join Xero Business Connect this year as we strive to achieve our vision of connecting thousands of enterprises to the Xero platform,” Crone adds. “And there are plenty of benefits for big business too.”
Xero Signals
Xero also announced Xero Signals – as the next step in understanding the value of small businesses to the economy.
In her keynote address, Victoria Crone said; “Small business owners usually do not recognise the importance of their place in the world economy and usually fail to appreciate their own contribution to the world’s gross domestic product.”
In New Zealand, small business makes up around a third of the workforce, just under 40 percent of GDP and nearly 97 percent of all business.
“Xero Signals will provide insights into how this important part of the economy is performing, based on information in Xero complemented with survey data.” Crone adds.
“It’s real time and it surfaces information around the small business economy that we haven’t been able to see before.
“Small businesses contribute to variety and consumer choice for customers by quite often serving niche markets. They provide an important source of innovation and invention, an important factor in all economies.
“We now have a good understanding of what needs attention, so we can work with right people to ensure the best environment and support exists for small business to be successful.”
According to Crone, Xero Signals will be rolled out in the coming months.
Xero customers more likely to trust their accountants
Xero recently undertook a survey of its small business customers to gauge perceptions of the level of services and satisfaction with their financial advisors.
“Xero customers are more likely to have a financial and business plan, and a clear purpose or mission, than non-Xero customers,” Crone adds. “We also know that they are more confident managing the business and reward innovative thinking in the business.
“But mostly importantly, Xero customers (51 percent) are more likely to trust their accountants than non Xero customers (27 percent).”