Facebook Continues Its Focus on Supporting Small Businesses
By Diana Doukas, Policy Programs Manager, Economic Impact, Facebook
As the year begins to come to an end, the holiday shopping season is just beginning. We know that this time of year is critical for small businesses, maybe never more so than during a pandemic. To ensure small businesses are prepared for the holidays, we have a number of initiatives to support them.
Season of Support: The holiday season is always busy for small businesses, but this year is particularly stressful. So this Fall, we launched a Season of Support to help boost small businesses sales with personalized resources to help reach their goals. Our support to small businesses ranges from creating personalized marketing plans, to bringing more of their business online, to managing their online presence to help increase sales.
#BuyBlackFriday: More than 40% of black-owned businesses closed this year, closing at twice the rate of other small businesses, and we are committed to supporting those that remain. In partnership with the US Black Chambers (USBC), we launched the #BuyBlackFriday campaign to celebrate and encourage consumers to shop from black-owned businesses every Friday.
We’ve also been hard at work learning more about the challenges small businesses are facing. In October, Facebook published the latest findings of its Global State of Small Business Report, in collaboration with The World Bank and the Organization for Co-operation and Development, and based on the Future of Business Survey. The latest installment continues to reflect ongoing economic uncertainty, with the recent acceleration of COVID-19 as a contributing factor.
It is clear that women and women-owned businesses are disproportionately impacted by the pandemic and resulting economic slowdown. Many women have found ways to push through the economic strife with the help of digital strategies—52% of operational female-led small businesses on Facebook reported 25% or more of their sales were made digitally in the past month.
More universally, women are trying to balance more demands than ever. Many were already pulling double duty before the pandemic, carrying the responsibilities of both their jobs and the majority of duties at home. Our latest report highlights the impact of these additional pressures, with more than a quarter of female small business owners in our survey responding they are spending 6+ hours per day on domestic and family care while also trying to keep their businesses afloat.
Some of these results corresponded with findings in our new Survey on Gender Equality at Home Report. Facebook collaborated with the World Bank Group, UN Women, Ladysmith and EqualMeasures2030 to develop a representative survey of over 460,000 Facebook users across 208 countries, territories, and islands, about life at home during COVID-19. The survey, the first of many, holds a number of notable insights, some affirming and others challenging conventional wisdom about gender equality globally. We hope that this report inspires new research and creative collaborations across sectors to understand and unlock gender equality at home, both during and beyond the COVID-19 pandemic.