Facebook Announces To Waive Fees For Small Businesses

Facebook Announces To Waive Fees For Small Businesses Till June On ‘Checkout on Shops’

Social media giant Facebook has announced new measures to ease the process of doing business for small businesses. The company has announced a complete waiver of selling fees for small businesses among others. Businesses that are selling products with Facebook’s Checkout on Shops feature need not pay selling fees. The waiver will remain in place till June 30 this year. The latest decision has come as a big help for small businesses that were affected due to the lockdowns. It will help them to recover from the loss. Facebook in a statement said that businesses are going through a critical time of their lifetimes due to the pandemic. They are facing the greatest challenge. During this unprecedented time, it is necessary to assist them to survive.

Facebook’s statement noted that nearly 47 percent of such businesses said that they are unsure about their business pattern if current circumstances continue and might not survive the next six months. Earlier, Facebook had announced not to collect fees for paid online events from such businesses till August. The pandemic forced companies to look for alternatives to survive. Many businesses adopted digital tools for marketing. But they are facing multiple challenges to cope up with. In 17 countries, around two-thirds of small businesses increased using digital marketing tools. Over 60 percent of the business said that the use of digital tools will continue even after the pandemic.

Facebook said that it has also introduced an initiative to personalize advertisements. It is called ‘Good Ideas Deserve To Be Found. The initiative will help small businesses to grow. It will highlight how personalized advertisements are important to discover people on both Facebook and Instagram. Facebook said that it has also simplified the ‘Ads Manager’. It will help businesses to personalize marketing plans. For the restaurants, Facebook said that a new option is available that will allow the business to show what dining experiences are available. It will help restaurants to find customers directly.

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