Taking care of small businesses: Facebook offers $100 million in cash grants to SMBs

It’s a challenging time for small-and-medium-sized businesses (SMBs), but it’s bringing out the best in the companies that serve them.

Google recently announced its plan to offer SMBs $340 million in ad credits. Now Facebook has pledged $100 million in cash grants and ad credits to SMBs that qualify. Assistance can be used to keep customers engaged, employees connected and expenses in check.

Facebook says up to 30,000 small businesses in over 30 countries will be able to take advantage of the program. Eligible businesses must have:

  • Between 2 and 50 employees
  • Been in business for over a year
  • Experienced challenges from COVID-19

Businesses must also be in or near locations where Facebook operates. You can check eligibility and sign up to receive more information when it becomes available at the Facebook for Business site.

Google is offering $340 million in ad credits to small and midsize businesses. Find out how to take advantage of them.

In the meantime, Facebook offers these five tips for businesses affected by COVID-19:

  1. Stay safe and informed: follow credible sources like the Centers for Disease Control and Prevention (CDC), World Health Organization (WHO) and local government news feeds.
  2. Stay in touch with customers: proactively share information across social media, including updates to business hours and operations.
  3. Host online events: try webinars or live sessions to keep customers connected and engaged.
  4. Prepare a customer service plan: make sure your customer service team has planned responses for incoming questions and requests.
  5. Offer responses to frequently asked questions (FAQs): anticipate questions your customers are likely to ask and prepare empathetic responses.

Facebook’s Business Resource Hub also features other helpful tools, like a business resilience toolkit, a quick action guide and resources for customers and employees.