Facebook Initiates Programme For Small And Medium Entrepreneurs on Tuesday announced a grant of Rs 32 crore for more than 3,000 small businesses in Delhi, Gurgaon, Mumbai, Hyderabad and Bengaluru.
The grant, that determines both cash and ad credits with cash constituting a larger share, is part of a global grant for small businesses .
Facebook announced in March this year as Covid-19 pandemic began to spread globally.
“The grant programme is open to small businesses from all industries and verticals, and businesses do not need to have a Facebook family of apps presence in order to apply. They are also free to do what they wish to do with this grant,” Ajit Mohan, MD and VP, Facebook India, said in a statement.
Facebook and Instagram launched capabilities for businesses to drive the discovery and sale of Gift Cards.
Configuring gift cards on Facebook and Instagram is free for businesses.
Facebook also released India findings on ‘State of Small Business Report’, an ongoing research collaboration between Facebook, the Organisation for Economic Co-operation and Development and the World Bank to survey Small and medium businesses globally, including India, in context of Covid-19.
According to the survey conducted, more than a third of operational small business on Facebook India expect cash flow to be a challenge in the next few months.
Nearly 41 per cent of operational SMBs on Facebook India reported atleast a quarter of their sales are made digitally.
More than half of operational SMBs on Facebook India also feel optimistic about the future of their business.
According to Facebook, 180 million small businesses globally use Facebook family of apps to reach potential customers and build their business framework.
It implies that, for every 45 people in the world, there is a small business present on the Facebook family of apps.
The social media giant in April announced to pour in Rs 43,574 crore for a 9.99 per cent slice in Reliance Industries Limited -Jio Platforms, underlining its commitment to India and especially small businesses.