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Google announces a $800m commitment to supporting businesses through COVID-19

To help aid the challenges SMB’s are facing, Google announced at the beginning of April that they will be committing $800m to help fight the hardship COVID-19 has created. The pledge will be distributed to 5 sources; the WHO, NGO’s & financial institutions, Google Ad Credits to SMB’s and direct financial support to increase production capacity of personal protective equipment (PPE).

So how much of that $800m will benefit you, small to medium sized business? $340 in ad credits according to Google. These ad credits will be available to all SMB’s who have an active ad account for at least the last year (Jan 2019). These customers will get a notification in their ads manager about the ad credit. Users can make use of the ad credit at any point until the end of 2020 across Google’s network of platforms.

 

“We hope it will help to alleviate some of the cost of staying in touch with their customers.” 

So why are Google giving SMB’s free ad credits?

Further in their statement, they said;

“Small and medium-sized businesses are the backbone of our communities. They represent about 90 percent of all businesses and more than half of employment worldwide, according to the World Bank. COVID-19 has posed a particular challenge to these businesses, who may be facing closures and declining revenue even as they find ways to support and protect their employees. Through ad credits, we hope to alleviate some of the cost to stay in touch with their customers.”

 

What can I use the ad credits on?

 

Lucky for you, Google has a wide reach in terms of capabilities (something you should already know if you’re doing ad campaigns). This means you can utilise; Search & Display, as well as YouTube(the worlds second largest search engine).

 

Where is the rest of the $800m fund going?

Whilst the majority of the investment fund is going to SMB’s in the form of ad credits, there are also many other projectsGoogle are putting money towards helping.

World Health Organisation (WHO)

Google have announced they will be donating$250m in ad grants to help the WHO, as well as government agencies providing critical information on the prevention and spread of COVID-19.

NGO’s and Financial Institutions

NGO’s and Financial Institutions will get a $200m fund to support the funding of small businesses worldwide in order to access capital.

Google Cloud Credits

A pool of $20m is available in GoogleCloud credits, to be used by academic institutions and researches for them to leverage Googles computing capabilities to try and test any potential vaccines for COVID-19.

Financial Support for streamlining personal protective equipment (PPE) and lifesaving medical devices

Google will be working closely with their long-time supplier and partner to help increase the production capacity of face masks to3 million over the following months, as well as facilitating increased demand for ventilators across the world.

 

In summary, Google isn’t just sitting back whilst this pandemic goes on, they’re actually doing some good and utilising their expertise to make things better. Their investment in projects will go along way, but we’re more interested to see the outcomes of these projects, because if anyone’s going to create something innovative throughout this, it’s Google.

 

Read the full statement on their website, here.

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