Facebook launches S$4.75m grant to support over 800 small businesses in S'pore

SINGAPORE — Facebook has set aside about S$4.75 million for a new grant programme aimed at supporting more than 800 small businesses in Singapore, the tech giant announced on Wednesday (Sept 16).

Each eligible business in Singapore could receive a grant amounting to S$5,500, which is made up of S$3,500 in cash and S$2,000 in optional ad credits, said Facebook in a media statement.

Applications are open from Sept 16 to 22. Businesses do not need to have a Facebook presence in order to apply.

To be eligible for the grant, the small business must have between two and 50 employees, been in business for more than a year and experienced challenges during the Covid-19 pandemic.

More information on the eligibility criteria and how to apply for the grant can be found on Facebook’s website.

According to an ongoing study jointly conducted by the World Bank, the Organisation for Economic Co-operation and Development (OECD) and Facebook, close to 58 per cent of small- and medium-sized enterprises (SMEs) they surveyed in Singapore said they are concerned about cash flow in the coming months.

The report also showed that small businesses have made serious efforts to go digital by moving operations online, with 62 per cent of operational SMEs on Facebook reporting that a quarter or more of their sales were made digitally in the past month.

The tech firm said it has also added ways for these businesses to adapt and go online, regardless of their size or budget.

For example, it has platforms such as Facebook Shops, where businesses can create an online store on Facebook and Instagram for free and connect with customers through messaging platforms WhatsApp, Facebook Messenger or Instagram Direct.

Said Mr Damian Kim, Facebook Singapore’s country director: “Small businesses are the heart of our communities and the backbone of our economy. They have also been some of the hardest hit by Covid-19, impacting the lives and livelihoods of so many Singaporeans.

“It is more important than ever for us to move forward together through these challenging times.

“We’ve pulled together these resources to support small businesses here as we look to play our part in supporting economic recovery and work to emerge stronger from the pandemic.”

Facebook has also announced that globally, it will give out US$100 million (S$136 million) in grants to 30,000 eligible small businesses in over 30 countries.