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Facebook India to provide Rs. 32 crore grants to help small businesses

Facebook’s India MD, Ajit Mohan on Tuesday announced the launch of the small business grant for India. “As part of our $100 million global grant for small businesses announced in March, today we are announcing a grant of $4.3 million (Rs 32 crores) for more than 3000 small businesses across Delhi, Gurgaon, Mumbai, Hyderabad, and Bangalore, where Facebook has offices”, he mentioned.

He further added, “The grant includes both cash and ad credits, with cash constituting a larger share. The grant program is open to small businesses from all industries and verticals, and businesses do not need to have a Facebook family of apps presence to apply. They are also free to do what they wish to do with this grant,” he added.

Why is Facebook providing such a grant?

Facebook mentioned that the recovery of small businesses play a key role in recovering the economy of the country and wants to help India, as mentioned, “Earlier this year, we underlined our commitment to India and especially to small businesses through the $ 5.7 billion investment and partnership with Jio Platforms. 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 presence on the Facebook family of apps,”

“The grant includes both cash and ad credits, with cash constituting a larger share. The grant program is open to small businesses from all industries and verticals, and businesses do not need to have a Facebook family of apps presence to apply. They are also free to do what they wish to do with this grant,” was noted.

Facebook also stated about the various facilities it along with Instagram has launched to boost the sale of gift cards, as mentioned, “Gift cards will help small businesses reach more potential customers online. They will also help small businesses to get cash flow when they need it the most, and even when physical stores might be shut. Configuring gift cards on Facebook and Instagram is free for businesses, and we have tied up with multiple partners to enable the issuance and management of gift cards,”

How can one apply?

The SME’s are supposed to submit an application between the 15th to 21st September, SME’s that are not holding a Facebook presence are also free to apply.

Who can apply?

  • SME’s with a minimum of 20 and a maximum of 50 employees as on 1st January 2020.
  • SME’s with a minimum one-year business-run period.
  • SME’s that have been affected due to the COVID-19 pandemic.
  • SME’s in or very near to any of the following places, Delhi, Gurgaon, Mumbai, Hyderabad, and Bangalore.
  • SME’s with valid GST and PAN.

(Non-profits are excluded)

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