What Are The New Features?
In its most recent announcement, Facebook revealed two primary ways it’ll be using the platform to help Black businesses during the post-pandemic economy:
1. Discover Black-Owned Businesses
Facebook is making it easier for users to find Black-owned businesses on its platform. Admins that manage a Facebook page for a Black-owned business will now have the option to note their race.
This feature will allow a business to appear in the “Black-owned Businesses” subsection, located in the “Business Nearby” tab on Facebook. The tech giant is also allowing minority-owned businesses to identify their listings, too.
Other tech companies are also making it easier to find Black-owned businesses. In July, Google introduced a new badge to represent those specific businesses, whilst Yelp has been making it easier for customers to search for a Black-owned business.
2. Facebook Grants
Earlier this summer, Facebook committed a total $100 million investment to support Black-owned businesses, creators, and nonprofits in the US. Of that, it’s allocating $40 million in grants to support Black-owned businesses in the US.
Black-owned businesses with up to 50 employees can apply for this grant money, and the company will select 10,000 businesses to award the funds.