This week Facebook has announced a major small business grants programme for small businesses in London. The COVID-19 crisis is more than just a public health crisis – it’s an economic crisis. Small businesses in particular have been most affected, with 68% of UK respondents to Facebook’s State of Small Business Report telling us that sales had dropped by more than half.
Over two million UK small businesses use Facebook to grow their business and almost 1 in 4 businesses said that Facebook had helped them to hire more people. Facebook knows their business grows when UK small businesses grow – and it is because of that partnership that they announced a $100 million grant program to support up to 30,000 small businesses in over 30 countries earlier this year, focused on those cities where they have major offices.
Facebook’s London team has continued to grow throughout this year – they had over 3,000 staff based in London staff at start of 2020 and the plan is to have added 1,000 more in London by the end of the year. More than half work on engineering and product development – for example working development of global safety and security tools and leading enterprise products like Workplace and Facebook shops. Facebook have invested for a capacity for 6,000 staff in London by the end of 2021.
In London Facebook will be providing almost £5m in cash grants and ad credits to hundreds of small businesses in London to help them rebuild, re-engineer and recover operations. (Offering £1,929 in cash grants and £1,157 in ad credits per business)
Businesses can go to www.facebook.com/grantsforbusiness to see whether they’re eligible and for more details about the program.