Facebook is to give away £4.2m of advertising space as part of a scheme to help British and European businesses make the most of social media.
The programme, dubbed Ad Boost, will give 50,000 small businesses across the UK, France, Germany, Spain and Italy ad credits to use on its site, although they will only be worth up to €100 (£83.16) each.
In addition, Facebook will run a series of UK-wide events over the next six months in conjunction with the British Chambers of Commerce to advise small businesses how to effectively create a Facebook page and engage customers.
The move coincides with the publication of a Deloitte report, which shows that Facebook has supported 35,200 jobs across Europe and contributed £2.2bn to the UK economy.
Facebook chief operating officer Sheryl Sandberg said: “The report shows Facebook is about a lot more than sharing pictures or keeping up with friends. Increasingly, social media means growth and jobs.
“As the Deloitte study highlights, social media is proving particularly valuable for small and medium-sized businesses, which form the backbone of the European economy.
“The impact of social media is a bright spot in challenging times, but growth won’t happen on its own. We need to make sure that we invest in the right education, training, technology and networks so that social media can continue to drive innovation and economic growth.”
