COVID-19 pandemic has affected businesses worldwide and during this touch time, one of the largest social platforms ‘Facebook’ is offering a helping hand, providing little financial support i.e. USD 100M in cash grants and ad credits to Small and Medium Enterprises sector (SMEs).
Who Is Eligible?
Approx. 30,000 eligible small businesses across 30+ countries will be able to receive a grant from Facebook.
Is Your Business Eligible?
- Your business must have between 2 to 50 employees
- Your business must have been in business for over a year
- Your business must have experienced challenges because of COVID-19 Pandemic
- Your business must be a for-profit company
- Your business must be in or near an area where ‘Facebook’ operates
* To check the area eligibility/ your business location, click here – https://bit.ly/3i31Jk2
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Documents Required?
- Your business must have a GST registration certificate
- Your business must have a Business PAN
Please note:- Facebook can ask for more details if required.
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Applications For Small Businesses In India:- Important Things To Know
- Applications are now open in India
- Small businesses not required to have a Facebook presence in order to apply (are also eligible for the grant)
- SME’s in India can submit their application latest by 28th of September’20 (date extended from 21st September’20)
- Business chosen for the grant will receive 63,000 INR cash and 38,000 INR in optional Facebook advertisement credits
- SMEs can apply for grants for only one business.
- People owning multiple small businesses need to choose only one as Facebook will consider duplicate or multiple applications.
- The SME owners have to provide a mobile number that is linked to their Aadhaar card.
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How will it help SMEs in India?
- To pay the rent
- To retain staff
- To help in operational costs
- To keep your workforce going
- To help in connecting with more customers
- To support your community
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The company has partnered with Goodera for this. To recall, Facebook has also announced a $100 Million global grant for small and medium businesses in March.
Let us know if you have any questions to ask on meetbnd@gmail.com.
The views and opinions expressed in this blog are those of the authors. It is the reader’s responsibility to verify the information.
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