Facebook announced it’s investing $100 million in cash grants and ad credits to help 30,000 small businesses in over 30 countries where it operates.
It’s becoming clear that the COVID-19 pandemic is going to severely affect businesses big and small. Still, it will be especially felt by small and medium-sized businesses that will require financial support to continue operating.
Facebook is stepping up and is listening closely to the concerns of small businesses, “the heartbeat of [Facebook’s] communities,” and the people who run them, especially as more and more people are staying at home these days.
As Facebook COO, Sheryl Sandberg, explains, “the longer the crisis goes on, the greater the risk to small businesses and to the livelihoods of their owners and employees.”
In a bid to help SMBs, Facebook is announcing a $100 million investment in helping over 30,000 eligible small businesses in over 30 countries where its employees live and work.
The program can help businesses in a range of ways, like keeping their workforce going strong, helping them with their rent costs, helping them connect with more customers, and even operational costs. Business owners can apply for updates here, and Facebook will notify them as soon as the program becomes available.
In addition to the above, Facebook has also made its Business Hub available for all. The resource was available for Facebook employees and health experts, but it will now be available to everyone.
Finally, Facebook is creating new virtual training “to support businesses operating in this new and unsettling environment.”