The Xero (ASX:XRO) share price is up 82% in 2020

Although the Xero Limited (ASX: XRO) share price is underperforming on Tuesday, it isn’t taking any of the shine off its incredible performance in 2020.

Since the start of the year, the cloud-based business and accounting software platform provider’s shares are up an impressive 82%.

Why is the Xero share price beating the market in 2020?

There have been a number of catalysts for Xero’s strong share price gain in 2020.

One of the main catalysts has been the company’s strong performance during the COVID-19 pandemic.

Despite the disruption that small businesses have faced from the crisis, this hasn’t been able to put a dampener on Xero’s growth. In fact, its subscriber numbers have continued to grow as though there was no…