Facebook Grant for small business - Everything you need to know.

 The world is going through a crisis like never before. There is a pandemic which is still in the society, there was an economic slowdown all over the globe even before pandemic hit us. The continuous lock downs, travel restrictions and deaths due to the pandemic accelerated this economic crisis and now the crisis is in a worst possible shape. Close to a billion people lost there jobs globally. In short, I can see that the economic outlook of the world is not looking so good.

We talked about job loses and money crunch. What is the best way to make the marker economically active again? The easiest and best way is to pump money back to economy. By saying pumping money to market, I meant to say that there should be money with common man to be spent on to buy things. If common middle class and poor doesn't have a job or money to spend on day to day life, there is no economic activity in the world. Yes, you're right. Literally commoners like me and you run this world. 

There are two ways we can pump money to market, Either by printing more cheap money thereby inflate the market or Drive the money back to the market from where it is hugely accumulated. The first method of printing cheap money is as dangerous as it sounds. In the other hand, only two type of entities can do the second method. They are Governments and Big corporations. As we all know, governments are corrupted as well as not lead by good leaders lately. That's when Giants like Facebook or Google can step in(Ambani's and Adanis in India can consider this too). Because, if we don't have money, Facebook or neither of these big corps are not earning money. 

Of all the controversies Facebook managed to make this year, Mr. Zuckerberg and team's managed to make a good news by announcing a USD 100M(How many zeros n 100 million?😲) fund to provide cash grants and ad credits to help small businesses get back on their feet. In their own words small businesses can use a small financial help to overcome the disruptions faced by global spread of COVID-19. A small financial help can at least do the following things to keep your business going.

  • Keep your workforce going strong

  •  Help with rent and operational costs

  •  Connect with more customers

  •  Support your community

Is your Business Eligible?

This is a global program. Over 30000 small businesses from over 30 countries can be eligible for the cash grant. The following are the basic criterion to qualify for the program.
  • If you have between 2 and 50 employees
  • If you have been in business for over a year
  • In case if you have experienced challenges due to COVID-19
  • In case if you are in or near a location where Facebook operates
As per Facebook India, small businesses in India can submit their application between 15-21 September 2020.

Once qualified, Each business that is awarded a grant will get approximately INR 63,000 in cash and INR 38,000 in optional Facebook ad credits to help during this challenging pandemic time.

Surprisingly, small businesses need not to have a Facebook presence in order to apply.

If you think you are satisfying the eligibility criterion, Proceed to apply, you will need the following documents.
  • GST Registration Certificate document.
  • Business PAN Document
You can read more about this and apply in the in the Facebook page by clicking here. A third party Facebook partner will review your application and take forward.

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