The Business Boost scheme unveiled by Facebook in January was launched at the end of May 2012, granting entrepreneurs all over the United Kingdom £20 free credit access to advertise on the social networking site. The program has made a commitment to offer small businesses in the continent with a credit of up to £80 to advertise on Facebook, with entrepreneurs from the UK being the first ones to be offered access.
Small businesses in the UK that have in excess of 50 fans on Facebook, have the option of automatic registration for a credit of £20. They can also make the most of an opportunity to apply for an additional £60 depending on the growth of their fan base.
The credits are set to extend to businesses in Italy, France, Spain and Germany later in June 2012, reaching over 50,000 firms. The scheme is part of the site’s Business Boost program, and aims at helping small businesses leverage social media profitably. Deloitte’s published research in January revealed Facebook’s role in the British economy. The site is responsible for creating over 18,400 jobs in the small businesses of the country, and contributing approximately £2.2 billion to the nation’s economy.
The British Chamber of Commerce has joined forces with Facebook, offering direct, practical, breakfast conventions in Glasgow and Birmingham, with events in London, Manchester, Sheffield and Sunderland set to follow. Moreover, ‘Boost Your Business with Facebook’, a complimentary downloadable guide published by Enterprise Nation can help British entrepreneurs attain all the required information to create, maintain and ace a Facebook page.
The policy director of Ireland and UK Facebook, Simon Milner said that despite economic conditions being difficult in recent times, small businesses have flourished thanks to shrewd entrepreneurs identifying the opportunity to profit from advanced technologies. He also said that they hope for more businesses to thrive in a similar fashion.