Australian businesses adversely impacted by the COVID-19 pandemic can now access Facebook’s grants program for SMEs.
The social media giant has opened applications for Australian businesses, which are done city-by-city, on 16 September and will continue accepting applications until 22 September.
Facebook launched the small business grants program on 21 April. The program was aimed at providing more than US$100m ($135m) to support small businesses across the globe that are financially struggling due to the economic disruption brought about by the COVID-19 pandemic.
Facebook released five criteria for grant applicants. To qualify, businesses must:
Businesses also do not need to have a Facebook presence to qualify.
Australian businesses need to submit an Australian Securities and Investments Commission (ASIC) record of registration of business name or similar ASIC documentation. Other documents required during application include partnership documents, business license, and proof of incorporation.
According to a recent report by Business Australia, around 60% of SMEs in the country have registered losses of up to 75% since the onset of the coronavirus crisis. The study also said that only 18% of these businesses reported consistent revenue and less than a tenth experienced sales growth during the pandemic.
Through the program, Facebook aims to support up to 30,000 eligible small business worldwide. Interested applicants can visit the program’s website for more details.
