Facebook has announced a USD $100 million grant as part of its programme to support small businesses affected by COVID-19.
This programme covers 30,000 eligible small businesses in more than 30 countries including India. Applications for this programme are now open in India.
In a recent blog post on Facebook, MD Ajit Mohan has said: "Small businesses are a big priority for Facebook. Every month, 180 million small businesses globally use the Facebook family of apps to reach potential customers and build their business. That means that for every 45 people in the world, there is a small business present on the Facebook family of apps.
Starting a business anywhere in the world can be daunting but with Facebook, it takes just a few minutes for a small business to set up a digital presence through our apps. Facebook is their bridge to the new global mobile economy, and we’re excited to be a part of their story.
"India has a thriving startup culture, and we have the potential to be the next hub for digital innovation, pushing business models that can be scaled to other similar markets. The 60 million small businesses in India are a key growth driver for the economy, fueling innovation and disruptive business models. They enable a reduction in income inequality, create new jobs, and contribute 30% to the GDP. As more small businesses come online in India over the next decade, fuelled by the rapid adoption of digital technologies, Facebook can play a material role in enabling new opportunities for them."
The requirements to be eligible for the grant are:
Have experienced challenges from COVID-19
Have between 2 and 50 employees as on January 1, 2020
Have been in business for over a year
Be a for-profit company
Be located in or near Facebook India offices: New Delhi, Gurugram, Bengaluru, Hyderabad, Mumbai
The applications can be sent till September 21.
According to Facebook, the programme will help affected businesses keep their workforce going strong, help with rent and operational costs and connect with more customers.
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