Facebook will give away free ads

THE SOCIAL NETWORK Facebook is giving away free advertising, claiming it wants to help small businesses grow.

The company said it will give away £4.2m worth of adverts to tens of thousands of small businesses across Europe.

Today a report by Deloitte showed that Facebook has supported 35,200 jobs across Europe and contributed £2.2bn to the UK economy.

The report came out as Facebook launched a series of roadshows run in partnership with the British Chambers of Commerce on building Facebook business pages.

Facebook COO Sheryl Sandberg said, "The report shows that Facebook is about a lot more than sharing pictures or keeping up with friends. Increasingly, social media means growth and jobs.

"As the Deloitte study highlights, social media is proving particularly valuable for small and medium-sized businesses, which form the backbone of the European economy.

"The impact of social media is a bright spot in challenging times, but growth won't happen on its own. We need to make sure that we invest in the right education, training, technology and networks so that social media can continue to drive innovation and economic growth." µ