The social media company’s Black business grant program is part of the $100 million commitment it made in June to help Black communities across the country. Facebook said the initiative was inspired by feedback from employees as well as people who applied for its $40 million Small Business Grants Program, which is aimed at helping small business owners of all races get through the pandemic.
1. Discover Black-Owned Businesses
Facebook is making it easier for users to find Black-owned businesses on its platform. Admins that manage a Facebook page for a Black-owned business will now have the option to note their race. This feature will allow a business to appear in the “Black-owned Businesses” subsection, located in the “Business Nearby” tab on Facebook. The tech giant is also allowing minority-owned businesses to identify their listings, too. Other tech companies are also making it easier to find Black-owned businesses. In July, Google introduced a new badge to represent those specific businesses, whilst Yelp has been making it easier for customers to search for a Black-owned business.
2. Facebook Grants
Earlier this summer, Facebook committed a total $100 million investment to support Black-owned businesses, creators, and nonprofits in the US. Of that, it’s allocating $40 million in grants to support Black-owned businesses in the US. Black-owned businesses with up to 50 employees can apply for this grant money, and the company will select 10,000 businesses to award the funds. This is the primary reason why Facebook is providing more help to the Black community – the grant program may be a lifeline to many entrepreneurs.
Supporting Black creators – Facebook’s $25 million grant program will provide support for emerging Black creators with access to funding, education, development resources, and community activities to help them grow their community and build a business across Facebook appsInvesting more funding for Black suppliers – Facebook has pledged to spend at least $100 million annually with Black-owned suppliersProviding 100,000 scholarships – These will be available to Black students working toward digital skills certifications through the Facebook Blueprint programReleasing the ‘Lift Black Voices’ platform – A new space in the Facebook app called Lift Black Voices highlights stories from Black people, shares educational resources, and inspires people to take action through fundraising for racial justice causes.
Here’s more info on how to apply → https://t.co/1PnDXIgVQd#ShareBlackStories — Instagram (@instagram) August 6, 2020
