Google and Facebook have both stepped up to help small businesses affected by the coronavirus outbreak with financial support packages. With countries across Europe in lockdown and the US emerging as the new epicentre of the pandemic, the long-term ramifications of the outbreak are only now starting to become clear.
Smaller businesses are among the worst affected with many unable to open or trade during this difficult time. In response, Google and Facebook have both launched million-dollar grant schemes for small businesses to help mitigate the negative impact of the ongoing crisis.
Google’s $800+ million support package
Google is a staple platform for businesses of all sizes and the vast majority of its customers have been affected by COVID-19. This means Google is also hurting with roughly 90% of its revenue coming from paid advertising but the company’s financial might means it is in a position to offer some relief for its customers.
Google and Alphabet CEO Sundar Pichai announced an $800+ million support campaign for small businesses and crisis response at the end of March.
Here’s what the package includes:
“$340 million [£275+ million] in Google Ads credits available to all SMBs with active accounts over the past year. Credit notifications will appear in their Google Ads accounts and can be used at any point until the end of 2020 across our advertising platforms. We hope it will help to alleviate some of the cost of staying in touch with their customers.”
So, if you’ve had an active Google Ads account over the past year, you’ll be eligible to for your share of $340 million [£275+ million] in ad credit, which will allow you to continue advertising during the outbreak without counting the cost.
Google says it will notify eligible businesses within the coming months and you can find advice for coping with the outbreak here.
In addition to this, Google is also providing $250 million [£200+ million] in ad grants to help the World Health Organization (WHO) and government agencies around the world provide critical information on how to prevent the spread of COVID-19 and other measures to help local communities.
A further $200 million [£162+ million] will go to NGOs and financial institutions around the world to help provide small businesses with access to capital, plus $20 million [£16+ million] in Google Cloud credits for academic institutions and researchers studying potential therapies and vaccines and other solutions to the health crisis.
The company also says it will provide financial support and expertise to help increase the production capacity for personal protective equipment (PPE) and lifesaving medical devices.
You can read the official statement here and find out more about ad credits for SMEs here.
Facebook’s $100m small business grants programme
Facebook is also doing its part to provide financial support for small businesses affected by the coronavirus outbreak with a cash grants programme. The social giant doesn’t go into as much detail as Google about specific numbers but it does say the funds will be given directly to small businesses to help them deal with the following operational challenges during the outbreak:
- Keep your workforce going strong
- Help with your rent costs
- Connect with more customers
- Cover operational costs
Facebook says that up to 30,000 eligible small businesses in more than 30 countries where the company operates will be able to receive the grant, which would work at roughly $3,335 (£2715) per business if the funds were shared equally.
To be eligible for application, you must meet the following criteria:
- Have between 2 and 50 employees
- Have been in business for over a year
- Have experienced challenges from COVID-19
- Be in or near a location where Facebook operates (this includes the United Kingdom)
You can find out more information about the grants programme and apply for it here.
Much like Google, Facebook is also offering advice for small businesses on how to navigate the current crisis and you’ll find a number of resources on this page.
Additional help during the coronavirus outbreak
Aside from Google and Facebook’s grant schemes, plenty of software companies are offering tools and subscriptions during the outbreak. Adobe, SEMrush and Zoom are among the providers giving free access to their services during the outbreak and these little discounts can add up to vital savings during hard times.
Of course, the government has also announced a string of support packages for small businesses in the UK, ranging from interest-free loans, grants, tax reliefs and a range of other measures – you can find out more information here.
And, as always, if you need any advice on how to deal with any of the marketing aspects of your business during the outbreak, you can reach us on social media or pick up the phone and dial 0161 870 2580 for a chat.