Meta launches new initiatives to help scale up small businesses in India
Reiterating its focus on small businesses, Meta, formerly Facebook, held an event where small businesses from across India were invited to talk about their digital transformation initiatives and the role Meta played in it.
During the event, Meta launched an online platform called Grow Your Business Hub, where small businesses can get curated information, tools and resources that can help them expand their business.
The company also announced a ‘Grow Your Business Playbook’, to hand-hold early-stage small businesses and teach them how to leverage the various Meta platforms to scale up.
The Playbook will provide tips on starting a business page, creating content, and using advertising to promote business.
According to Meta, millions of small businesses in India depend on their various platforms for day-to-day business. For instance, 15 million businesses use WhatsApp in India every month.
Likewise, Instagram in India has seen more than 1.2 million posts and comments in the last three months in support of small businesses and buying locally.
“Small businesses are the engines of growth for India’s economy, and the role of Meta is more important than ever in unlocking growth opportunities for them as many of them move online and use digital to grow," Archana Vohra, Director, Small & Medium Business, Facebook India said in a statement.
Vohra added, from curated and customized business skilling programmes to launching initiatives that enable working capital for small businesses, we have been building for the growth of India’s SMBs with a localized, India-first approach.
Small businesses were severely impacted during the pandemic and subsequent lockdowns imposed by the center and state governments to contain the spread of Covid-19.
According to a Dun & Bradstreet survey, published April, more than 82% of small businesses were negatively impacted during the pandemic, while 70% said it would take them nearly a year to get back to pre-pandemic level demand.
It led thousands of small stores across India to switch to online platforms and social media platforms to showcase and sell their products.