Tom Welbourne
Helping Small and Medium Businesses Achieve Their Full Marketing Potential | Digital Marketing Expert
How Facebook Is Helping Small Businesses: Coronavirus Action
- March 23, 2020
- 12:41 pm
Already so many businesses have been hit hard with the effects of Coronavirus, even as far as some small business owners tapping into their personal savings!
It is clear that Coronavirus has not yet hit its peak and many small businesses are still going to suffer the consequences. Despite the unfortunate predictions, Facebook has announced a $100 million program for small businesses impacted by the Coronavirus.
As we am sure you can imagine, meeting rent payments and other expenses during a time where most businesses, especially marketing agencies, are losing valuable clients is extremely challenging, so this kind gesture is received with gratitude.
Program Contents:
$100 million program for small businesses impacted by the Coronavirus
30,000 grants available to eligible small businesses in over 30 countries (average of $3,333 per business)
Supposedly, Facebook will be accepting applications in the next few weeks. It is extremely likely that a large number of businesses will be applying for this grant, so we advise you to stay up to date with our blog and the news to ensure you are one of the first to submit.
Given the foundation of Facebook was built in a college dorm room, it is clear to see that Mark Zuckerberg and the Facebook team has approached this situation with an open ear, and acknowledge the challenges that come with maintaining a business.
“We’ve listened to small businesses to understand how we can best help them” – Facebook COO Sheryl Sandberg.
Small businesses and those established are what bring life to Facebook, bringing a large proportion of its $70.7 billion turnover in 2019. Their position in the market must also be recognized, as it is predicted Facebook shares could drop another 30% to 40%.
The platform offers affordable advertising prices, allowing businesses of any size to market their product/service to a detailed target market, so to see the spend reduction Facebook has experienced so far, is a definite cause for concern.
As a result, Chief Operating Officer Sheryl Sandberg said the marketing industry is expected to see a large hit from the Coronavirus as well, but only time will tell if things will recover.
What can you do now?
On 18th March we posted a blog to our website sharing advice on how to market your business through the Coronavirus, and more importantly not suffer any heavy losses and maintain your operation through these tough times.
Our website and social media channels will be sharing current information about the Coronavirus and actionable steps that can help you work around it.
Key points:
$100 million program for small businesses impacted by the Coronavirus
30,000 grants available to eligible small businesses in over 30 countries (average of $3,333 per business)
Facebook will be accepting applications in the next few weeks
Facebook shares could drop another 30% to 40%.
Chief Operating Officer Sheryl Sandberg said the marketing industry is expected to experience a large hit from the Coronavirus
Stay up to date with our blog and social media channels for updates
