Xero have temporarily reduced the price of their Starter plan (Early plan in the US). In Australia the Starter plan for those new to Xero has been reduced by 50% to $12.50 per month for four months.
Xero has also made some of the most popular features more flexible by removing the limit on bank reconciliation and increasing the invoice limit to 20 per month.
Starter customers will still have access to all the other powerful features in the existing plan, including Hubdoc for automated document collection and management. Xero’s cash flow tools like business snapshot and short-term cash flow are also included.
History has shown that there is often a business resurgence following economic downturns, with some of the most challenging economic periods sparking incredible feats of creativity and ingenuity. Disney, Airbnb, Uber, Canva, Slack and General Motors are all examples of companies that began life during a recession.
Xero’s Starter plan aims to give life to those new small businesses starting out amid the COVID-19 pandemic and will support the green shoots of growth once each country moves into a recovery state.
There are already signs of growth across many markets around the world after initial dips. For example:
Australia: Over 150,000 new business ABNs created between May-July 2020 (ABR)
New Zealand: The number of new company registrations in July 2020 was up approximately 20 percent year-on-year
USA: New business numbers are starting to flow again with more than 500,000 applications for an employer identification number since mid-March (Census Bureau).
UK: Almost 200,000 businesses were formed from mid-March to mid-July and each month it has been on the rise (Companies House Data).
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