The new virus is challenging the whole world, and it is expected that the pandemic will spread to new regions in the coming weeks and months. Without a proper vaccine for the disease, nobody knows how long it will take to fight this virus. The major impact of the pandemic is on the business sector.
Intro To Facebook
Facebook (FB) is one of the leading social media platforms where people share a lot of information to their friends and family. It is regarded as the most popular social media website for the users to sign up for free and create their profiles. This allows them to stay connected with family, friends, work colleagues, and with people who they do not know.
Everything happens online, and it is the most sought after online platform to share photos, videos, pictures, music, and articles. The users are provided with the option to like the contents added by their friends. There is a space to share their ideas and opinions about the posts. What started a social networking website has grown and expanded rapidly over the years. Now, it is used by many businesses to attract customers and to improve their sales.
A Boon For Many Businesses
Many establishments use this platform to share the launch of new products and services. They can establish a social connection with their customers and clients easily. Many industries and people in commercial trading have benefit immensely from being on social media.
The best thing to happen to the online gambling industry is to come out with social casino games to attract players and enthusiastic gamblers. The gamblers have the option of visiting the social page of the popular UK casinos and try out some of the popular titles right through FB.
No matter if you are a fan of the slots, table games or even live croupier titles, the casinos make sure that everything is made available through this social media platform. Even the bettors are at an advantage as they get to play their favorite games for free, for example, Eye of Horus demo and chat with their friends, family, and other contacts.
FB Reaches Out To Small Businesses
This social media sharing platform does take good care of its small traders and the people involved with it. Facebook has understood the plight of small trade partners in dealing with the crash caused by the virus and has announced $100 million grants to support the partners. 30,000 establishments in 30 nations worldwide where Facebook is operational will get the advantage. This is a big move from the side of FB to help the small and medium establishments to stem the tide during this virus outbreak crisis.
Sheryl Sandberg, the Facebook COO, explained that people who run small trade are mainly affected by the crisis. They are not getting the money to run their business. The main reason for this is that people are staying at home to protect themselves.
Many governments all over the world are requesting people to practice social distancing and that has taken a toll on the small commercial spaces. If the crisis continues, small establishments are at greater risk, and it will be difficult for the owners and employees to get livelihoods. Facebook has also started a dedicated website for its business grants program.
Eligibility For The Grants
Facebook has not yet given clear information regarding who will be eligible for the funding program. Facebook has announced that they will reveal details in the coming few weeks. For now, interested trade owners can sign-up to get more information by visiting the website. In 2019, Facebook made revenue of $71 billion, and hence, distributing $100 million in grants is not a problem for the social media giant. The grant will be a great help for the businesses receiving it.
Further Assistance To Small Establishments
Facebook is also exploring other ways to help the developing traders to stay afloat during this difficult time. Facebook is also offering:
- A business resource center to provide the required support to those establishments affected by the new outbreak by offering relevant tools and guidance.
- New virtual training program to manage the altered operating conditions due to the lockdowns.
- New strategy to host dedicated virtual training sessions for those trying to survive the situation.
- A new set of blueprint materials to focus on remote working and managing the work team remotely.
Support For Newsrooms
Facebook is also collaborating with Lenfest Institute for Journalism and Local Media Association to offer $1 million in grants for the local news organizations in the US, Canada, which are covering pandemic which we are suffering now from. This will help the relevant news updates about the pandemic flowing and the local communities to prepare for the condition. These individual grants will be up to $5,000.
How The Program Helps Businesses?
If the funds are not generated for the medium establishments, it will be difficult to pay the workforce and to retain them. With the grants, these owners will be able to keep their workforce by providing wages. The program can also help with the rent costs, as the returns from the trade will below for a few more months. With proper advice and guidance, this popular social media platform will help them to connect with more online customers. The grants can be used to cover other operational costs of the businesses as well.
How Online Casinos Can Benefit?
More and more people will be opting for online casinos to play games and to kill their time as they are forced to sit at home due to pandemic. Online gambling businesses can use the Facebook platform to announce the introduction of new games on their site or to announce various bonuses awaiting the players.
They can keep the site reach to more and more people with the help of all the popular social media platforms. Online businesses can visit the recently launched business resource hub and use it for reaching the online games to more and more customers to provide them with some entertainment at this difficult period.
So, during this time of caution and restraint to prevent the risk of this virus from spreading, Facebook has come out with the much-needed grants to help the small business owners have a slight sigh of relief.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.