As COVID-19 continues to spread, small businesses in particular are facing serious financial concerns.
The outbreak has resulted in widespread closures of retail stores, restaurants and bars. With independent companies now concerned about their survival during this challenging time.
To help towards the financial impact of the Coronavirus outbreak, Facebook have announced the launch of a new grant programme. Providing $100 million (£83 million) in cash grants and advertising credits to small businesses. Coinciding with the UK government’s own schemes to help people get back on their feet.
Sheryl Sandberg, Facebook’s COO made the public announcement explaining “small businesses are the heartbeat of our communities… The longer the crisis goes on, the greater the risk.” “We’ve listened to small businesses to understand how we can best help them… We want to do our part.”
The facebook grant programme will offer as many as 30,000 small businesses in more than 30 countries help towards their rent and operational costs. Extra support for employees as well as advertising to help continue their connection with customers online.
The logistics of the programme are still unclear, and it hasn’t been confirmed how the money will be delivered or how much will be funded in cash versus advertising credits, but Facebook confirmed that applications will be open in the coming weeks.
Sandberg also announced that ‘Facebook Business Hub’ would be available for all businesses to access. Which features resources and recommendations to keep moving forward.
If you want to find out all the details of the facebook grant you can sign up here