Facebook announces $100m Grant
This Tuesday Facebook announced that it was to launch a cash grant program that provides $100 million in cash grants and advertising credits. Helping small businesses trying to cope with the uncertainty surrounding the outbreak of coronavirus (COVID-19).
Chief Operating Officer Sheryl Sandberg announced on her Facebook page that it will be “investing $100 million to help 30,000 small businesses in over 30 countries”.
Whilst the site hasn’t directly stated when this will be put into practice; it is a significant step to help support small businesses all around the world. Covering operational costs like employee wages, rent and bills is sure to help them survive in these turbulent times. Facebook also state that it will use ad credits to boost business services.
Last year, we listed reasons why investing in a social advertising strategy was important for businesses and it is now more important than ever before. As more and more people self-isolate and work from home, digital spaces will become even further crowded. Making getting your business heard critical, not only for survival but thriving as well.
Getting through it together
The company also introduced a ‘Business Resource Hub’ with official information about COVID-19 and how businesses can manage the outbreak. Whilst also providing them with downloadable content with best practices in staying connected to their audience network.
“We want to do more” said Sheryl Sandberg. A simple message showing how companies, big and small, can pull together to help one another get back to normality. It could be a different type of normal, but let’s try and get there together.