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Here’s How Facebook is Supporting Small Businesses Impacted by COVID-19

Business

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The platform is helping SMBs via a newly launched resource hub and a grant to help owners manage a remote workforce amidst COVID-19.

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The COVID-19 pandemic has brought with it uncertainty and unprecedented changes to the very fabric of our lives and our businesses. It has particularly hit small companies hard, some being forced to close for public safety, while others are suffering blows to their revenue figures. The longer the crisis goes on, the harder it is to support the livelihoods of their owners and employees.

Many platforms including Snapchat, Twitter, and TikTok, are identifying opportunities to step up to provide financial support as well as curb misinformation, ensure the public has accurate information on how to stay healthy and safe, and offer tips for embracing and leveraging new remote workforce. Facebook, too, is pitching in recently announcing a $100 million grants program to assist 30,000 SMBs, in 30 nations, supporting the communities in which Facebook and its teams operate.

FACEBOOK’S $100 MILLION AID PROGRAM

“We’ve listened to small businesses to understand how we can best help them. We’ve heard loud and clear that financial support could enable them to keep the lights on and pay people who can’t come to work. People across the globe are stepping up, rising to the enormous challenge in front of us. We want to do our part too,” shared Chief Operating Officer Sheryl Sandberg.

As far as who is eligible, that is still being determined, however, the platform has curated a page where SMB owners can sign up for more details as to when applications will be live. Beyond advertising efforts, there are several examples of how companies can use these grants spanning operational costs, rent fees, and employee wages.

Aside from the financial burdens, many are facing, Facebook’s exploring a range of other options to help businesses navigate the COVID-19 outbreak including a dedicated Business Resource Hub. Here SMBs can find tips for managing their business from home, downloadable content packages with best practices and insights, and a self-assessment to track progress. The Hub also includes links to official information about COVID-19 to help their customers stay informed.

VIRTUAL training AND EMBRACING A REMOTE WORKFORCE

Sandberg teased additional efforts in the works to help give organizations in need a boost including a virtual training program that can engage businesses all over the world. The company has also started work on a set of Blueprint materials, an e-learning program focusing on remote work and management of remote teams.

“Teams across our company are working every day to help businesses. We’re looking at additional ways to host virtual training – and will have more to share in the coming weeks – and we’re finding more ways to help people connect and learn to use technology through Blueprint, our free e-learning training program,” said Sandberg.

In addition to this, Facebook also shared its new partnership with the Lenfest Institute for Journalism and the Local Media Association. Together, they will provide $1 million in grants to local news organizations which are covering COVID-19 in the US and Canada in need of resources to cover the pandemic and deliver relevant updates.

In this unfamiliar environment, the capacity for technology to unite has never been stronger. Facing a new normal, the platforms and brands that put humans at the center of their strategies today will earn long-term trust after the present challenges are behind us.

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