Facebook Extends A$3 million in Grants to COVID-19 Impacted Aussie SMEs
(18 September 2020 – Australia) Facebook is offering US$100 million in cash grants and advertising credits to support 30,000 eligible small businesses in more than 30 countries through the COVID-19 pandemic, with A$3 million allocated to Australian SMEs.
The program is designed to retain staff, cover lease repayments, operational expenses and connect with more customers online. Successful businesses will each receive A$6,400 split into A$4,000 in cash and A$2,400 in optional advertising credits.
To be eligible businesses must prove they have between 2 and 50 employees, be a for-profit business, have been in business for over a year, can prove they have experienced challenges due to COVID-19 and be in or near a location where Facebook operates. Up to 60 percent of businesses that closed during the coronavirus pandemic will never reopen, with restaurants and cafes suffering the most harshly according to new data from Yelp.
“Facebook is committed to helping small businesses that have been affected by the coronavirus pandemic by offering cash grants and advertising credits. 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. Whatever happens next, we will be working to help businesses weather this storm” stated Facebook COO Sheryl Sandberg on a Facebook post at the creation of the grant program on March 17.
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