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Tech & Science Facebook gives $100M in grants, ads to small businesses hit by coronavirus

17:50  17 march  2020
17:50  17 march  2020 Source:   cnet.com

Business directors blame coronavirus fears for fall in confidence

  Business directors blame coronavirus fears for fall in confidence The post-election bounce in business confidence counted on by Boris Johnson has evaporated, according to new figures. © PA Directors are worried about the impact of the virus on their businesses A survey by the Institute of Directors shows that confidence is at its lowest since September last year, as the global economy struggles with the effects of the coronavirus.Other challenges cited by business bosses were domestic economic challenges and uncertainty over the UK's trading status with the European Union.

WASHINGTON (Reuters) - Facebook Inc (NASDAQ:FB) said Tuesday it plans to award $ 100 million in cash grants and ad credits for up to 30,000 small businesses in over 30 countries to address the economic impact of the coronavirus outbreak. The majority will be in cash grants and Facebook will

Facebook on Tuesday also announced a $ 100 million program to help small businesses impacted by COVID-19. The program will provide up to 30,000 eligible small business with "cash grants and ad credits to help during this challenging time." The coronavirus has already had a massive impact on

a black sign with white text: Facebook is looking to help small businesses amid the coronavirus pandemic. Angela Lang/CNET © Provided by CNET Facebook is looking to help small businesses amid the coronavirus pandemic. Angela Lang/CNET

As the coronavirus pandemic continues to impact communities around the world, on Tuesday morning Facebook announced that it will be offering $100 million in cash grants and ad credits for "up to 30,000 eligible small businesses in over 30 countries where we operate."

"People across the globe are stepping up, rising to the enormous challenge in front of us," COO Sheryl Sandberg wrote in a post, below, announcing the news. "We want to do our part too."

"Small businesses are the heartbeat of our communities, and many of the people who run these businesses are heavily affected by the crisis -- especially as more and more people sensibly stay home," Sandberg wrote. "The longer the crisis goes on, the greater the risk to small businesses and to the livelihoods of their owners and employees."

Coronavirus small business grants: the measures being taken to help UK businesses - and how to access them

  Coronavirus small business grants: the measures being taken to help UK businesses - and how to access them The Coronavirus Business Interruption Loan Scheme aims to support businesses to access bank lending and overdrafts . Here's how it all works:How does the Coronavirus Business Interruption Loan Scheme work?Speaking at the daily briefing, Mr Sunak said: “The coronavirus pandemic is a public health emergency. But it is also an economic emergency.He added: “Any business who needs access to cash to pay their rent, the salaries, suppliers, or purchase stock, will be able to access a government-backed loan, on attractive terms.

(Reuters) - Facebook Inc will provide free advertisements to the World Health Organization (WHO) as it seeks to ensure users are not misinformed about the "We're giving the WHO as many free ads as they need for their coronavirus response along with other in-kind support," Zuckerberg said http

WHO data shows confirmed cases of coronavirus and deaths from disease worldwide. Many cases recently spread to South Korea as scientists work to find a vaccine.

According to its small business website, the goal of the grant program is to help small businesses with rent and operational costs, supporting employees and connecting with customers. 

The news is the latest cash contribution from Facebook during the coronavirus crisis. Last week the company announced it was pledging $20 million towards global relief efforts

Chancellor unveils £330bn package to help businesses amid coronavirus crisis .
It came as the NHS moved to cancel all non-emergency surgery and deaths climbed to 71.Rishi Sunak vowed to do “whatever it takes” to help the economy, as he warned that “never in peacetime have we faced an economic fight like this one”.

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This is interesting!