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.
In support of these efforts, Xero is working with organizations in the United States and Canada to foster closer collaborations with Black accounting and finance professionals, and to support Black-owned small businesses.
A new accounting collaboration
The AICPA Accounting Graduates Supply and Demand Report reveals a dearth of diversity in the accounting profession — African-Americans accounted for 4% of new graduates hired into accounting or finance positions at CPA firms in 2018.
To rethink diversity in the accounting profession, we are pleased to announce our new collaboration with the National Association of Black Accountants (NABA). NABA is dedicated to bridging the opportunity gap for Black accounting and finance professionals by providing leadership and technical training, as well as networking and career opportunities. We are working with NABA to drive more awareness of Xero – both as a leading cloud accounting platform and as an employer of choice – in the communities we serve across the United States.
We’re also excited that Black Xero employees will have access to additional professional development and growth opportunities that NABA provides. We admire NABA’s commitment to diversifying the accounting industry and look forward to supporting that journey.
Supporting Black-owned small businesses
In addition to our work with NABA, we are also teaming up with the Oakland Black Business Fund (OBBF), a Black-led investment platform that provides capital, technical assistance and growth strategy to Black-owned businesses in Oakland, California. Xero will offer OBBF’s small business and bookkeeping members in the Oakland-area access to its cloud accounting software, its educational resources and certification workshops to help them make the best use of Xero’s tools and features.
In Canada, we have a number of efforts underway with the Black Business and Professional Association (BBPA), an organization that delivers programs in support of business and professional excellence, higher education and economic development. Xero employees are mentoring BBPA members and participating in a finance and technology ‘master class’ event for small businesses. Additional opportunities in the near future include working with BBPA on its new Business Advisory Implementation and Development Services (BAIDS) program aimed to train and expand the capabilities of Black entrepreneurs.
Rethinking diversity
As one of the founding leaders of the Black Xero Employee Resource Group, I couldn’t be more excited for these new partnerships and the chance to establish new relationships with Black professionals in communities across the United States and Canada.