KUALA LUMPUR, Oct 6 — Facebook Malaysia is launching its Small Business Grant Programme to support over 300 local small businesses, for which about RM3.2 million has been allocated.
Its country director, Nicole Tan said each grant amounts to RM9,400, which includes RM5,900 in cash and RM3,500 in optional advertisement credits.
“Businesses do not need to have a Facebook presence in order to apply and the applications are open until Oct 12,” she said in a statement today.
In the World Bank’s Global State of Small Business Report this year, it was revealed that nearly 58 per cent of small and midsize businesses surveyed in Malaysia were concerned about cash flow in the coming months.
The report said these businesses are the backbone of the nation’s economy and account for 38.9 per cent of the Gross Domestic Product, 48.4 per cent of employment and 17.9 per cent of Malaysia’s export business.