How is Google Helping SMEs Battle the Effects of COVID-19?
At the end of March 2020, Google CEO Sundar Pichai announced the tech giant’s plans to help eligible businesses with Google Ads credits. The company has also set up a fund to support NGOs, financial institutions and small businesses that will give them access to much-needed capital.
In addition to this fund, as well as the Google Ads credits, Google has also provided US$15 million in cash grants and US$20 million in ad grants specifically for public service announcements regarding relief funds for those struggling under the weight of COVID-19. These efforts could go a long way in helping small businesses survive during this difficult economic period.
Who is Eligible for Google’s Ad Credits?
Google specifies that only small and medium-sized companies around the globe can qualify for the COVID-19 Google Ads credits benefit. They emphasize the importance of supporting these types of businesses during this time, as 90% of all businesses worldwide comprise SMEs, according to the World Bank.
Google has created a team specifically to identify and assist with SMEs, streamlining the allocation of the Google Ad credits and ensuring that these companies get the help they need.
Is Your Business Eligible for Google’s COVID-19 Ad Credit Donation?
If you have a small or medium-sized business and have had a Google Ad account at any point during the last year, and if you want to keep up your marketing efforts right now, you could qualify to receive Google’s Ad credits.
Google states that these credits will be for future ad spend only, and can’t be applied to invoiced current or past Google Ads spend. The credits can be used across almost all of Google’s advertising platforms including search, display and YouTube.
When Will You Receive the Google Ad Credits?
Google has earmarked late May to begin rolling out their Ad credits relief measures. Eligible businesses will be notified about their Ads credits, which will automatically be applied to their Google Ads account.
At this point, it is not clear how much the COVID-19 Google Ads credits will be. Google simply states that the amount is based off of the business’ location, currency and past Google Ads spend.
Should Eligible Businesses Use Google’s COVID-19 Ad Credits?
Google’s very generous donations come at a critical point for many SMEs. The economic effects of the virus have been felt almost as quickly as it has spread, leaving many businesses faced with the very real threat of having to close their doors, as well as potentially be forced to let go of many of their employees.
For businesses and business owners who have managed to stay afloat despite the global crisis, this opportunity could be just what you need to make your presence known and let your customers know you’re still operating, no matter if that’s in an office or in your living room.
Making the Most of the COVID-19 Crisis
It’s no secret that COVID-19 has devastated hundreds of thousands, if not millions, of people around the world – including businesses. While many countries are actively trying to create a vaccine, there’s no telling how much longer living under the restrictions caused by COVID-19 will be our norm. As a business owner, it’s imperative that your business survives this crisis, and Google’s COVID-19 Ads Credit could be the olive branch you’ve been waiting for.