FREE Money for Small Businesses from Google and Facebook during the Coronavirus Crisis
Google’s Commitment to Small Businesses
- Google announced $800 Million pledged in grants and ad credits.
- $340 Million allocated to Small and Medium Businesses (SMBs) spending on Google Ads since January 2019.
Facebook’s Support for Small Businesses
- Facebook announces $100 Million in grants and ad credits.
- Grants are available to 30 million businesses across 30 countries.
- Learn more on their blog here.
Expert Analysis of Small Business Grants and Ad Credits
If you’re a small business owner who has advertised on Google or Facebook in the past two years, there’s a good chance you can receive ad credit, which acts as a grant. It’s unlikely these companies are simply handing out cash; rather, the grants are expected to be in the form of ad credits for future advertising on their platforms.
Numerous articles have covered this topic, including CNBC on Google’s ad credit announcement and Facebook’s small business grant program announcement.
While official applications from Facebook and Google are not yet released, they are anticipated soon.
Google’s $800 Million Allocation Breakdown:
- $340 Million to Small Business Ad Grants for those using Google Ads since January 2019.
- A $200 million investment fund to support NGOs and financial institutions providing capital to small businesses.
- $250 million in advertising grants for the World Health Organization and government agencies to disseminate COVID-19 prevention information.
- $20 million in Google Cloud credits for academic institutions and researchers.
- Unspecified financial support to boost production of vital equipment like face masks and ventilators.
Facebook’s $100 Million Allocation Breakdown:
- Grants will be offered to up to 30,000 eligible small businesses in over 30 countries, averaging $3,333 per business.
What This Means for Your Small Business
If you’ve advertised on Google or Facebook since 2019, you should strongly consider applying for these grants.
Stay updated by reading official announcements and following both companies on Twitter.
Read Google’s announcement from CEO Sundar Pichai or follow him on Twitter @SundarPichai.
Sign up for updates on Facebook’s grant policy on their website.
While the official release dates are unknown, it’s crucial to take advantage of any free money or ad credit offers during this challenging period.
Additional Strategies for Small Businesses During the Coronavirus Crisis
- Apply for all available grants, 0-interest loans, and ad credits to improve cash flow and retain/attract customers.
- Conduct a SWOT analysis to reflect on your business strengths, weaknesses, opportunities, and threats, and plan for improvements.
- Focus on essential business tasks you’ve postponed, such as website rebuilding, customer communication, or creating new operational procedures.
- Revitalize your online presence by improving website page speed, mobile-friendliness, and intake systems.
- Prioritize SEO by auditing your search engine visibility and creating a plan for website and local SEO enhancements.
- Analyze customer data, segment email lists, and identify your best customers to attract more of them.
- Review your team and HR processes, ensuring correct hiring, training, and proper documentation and infrastructure.
This is a difficult time for everyone, with many businesses facing closure. Don’t panic or give up. Now is the time to reflect, revise, and rebuild.
Thanks and Happy Monday!
Shop Small.
Mac Frederick
Frequently Asked Questions
What is Google offering small businesses during the Coronavirus crisis?
Google is pledging $800 million, with $340 million allocated for Small Business Ad Grants for businesses using Google Ads since January 2019, and other funds for NGOs, research, and public health initiatives.
How much is Facebook investing in small businesses impacted by COVID-19?
Facebook is investing $100 million in grants and ad credits for eligible small businesses. Up to 30,000 businesses in over 30 countries can receive these grants, averaging $3,333 each.
Are Google and Facebook giving out direct cash grants?
It is unlikely that direct cash grants are being offered. The grants are expected to be primarily in the form of ad credits for future advertising on Google and Facebook platforms.
Who is eligible for these Google and Facebook grants?
Eligibility generally requires small businesses to have advertised on Google or Facebook in the past two years (specifically since January 2019 for Google Ads grants). Specific criteria will be detailed when applications are officially released.
When will the applications for these grants be available?
Official applications from Google and Facebook have not yet been released, but they are expected to be available in the near future. It’s recommended to follow their official channels for updates.
Beyond grants, what other advice is given for small businesses during the crisis?
The advice includes applying for all available financial aid, reflecting on business strategy through SWOT analysis, focusing on essential tasks, rebuilding online presence and SEO, analyzing customer data, and reviewing HR processes.
