How big is Xero's addressable market?

How big is Xero's addressable market?
Xero CEO Steve Vamos remains cagey about the firm's progress in Canada. (Image: Xero)
Jenny Ruth
If you just looked at the number of Xero subscribers in New Zealand and married them with the Ministry of Business, Innovation and Employment (MBIE) estimates of the number of small businesses in NZ, you might think the cloud accounting software company had pretty well saturated the market.Xero reported 512,000 NZ subscribers at March 31, compared with MBIE's estimate of about 530,000 small businesses.But Xero subscribers are not all small businesses.Xero's chief executive, Steve Vamos, told BusinessDesk that the numbers include propert...

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