Facebook has pledged to give away £4.2m in free advertising as part of a bid to help British and European businesses make the most of social media.
The company's Ad Boost programme will give 50,000 small businesses across the UK, France, Germany, Spain and Italy up to �?�100 (£83.16) each of ad credits to use on its site.
It will also run a series of UK-wide events over the next six months with the British Chambers of Commerce to advise small businesses how to effectively create a Facebook page and engage customers.
For example, if a user becomes a "fan" of the small business or "likes" it on the social networking site, the user's friends will get an update, effectively providing the company the best form of advertising available - an endorsement from someone they know.
Giselle Brown from restaurant Dig In The Ribs told Sky News it was useful in providing a bigger base of customers to interact with and send promotions.
Silicon Valley-based Facebook will also develop and deliver e-book toolkits on the subject for start-ups and small businesses, in partnership with Enterprise Nation.
As part of its European initiatives, Facebook also aims to ensure young people have the right digital skills to enter the jobs market.
It follows an announcement by fellow-US company McDonald's to create 2,500 UK jobs, aimed mainly at people under the age of 25.
Debbie Forster from the Apps for Good programme said: "There is clearly a digital skills gap in the UK, but this is partly because young people aren't aware of the opportunities out there.
"They can't imagine a world without Facebook but don't realise it could be a stepping stone into employment.
"Through programmes like Apps for Good, we challenge young people to think differently about the industry, and show them that just by using technology to solve their everyday problems, they are a developer in the making."
Meanwhile, a study by the consultancy firm Deloitte said that Facebook and mobile applications have supported 232,000 jobs across the European Union in 2011, adding £12.7bn across the 27 member states.
The Facebook-commissioned research said that the social networking site contributed £2.2bn to the British economy last year and supported 35,200 jobs.
Deloitte said the majority of the impact came from 'broad' effects which allow businesses to promote their brand to a larger audience and generate new sales.
Facebook's director of policy for the EU, Richard Allen, told Sky News that additional sales of smartphones, tablets and internet access, which allow users could access Facebook, and apps and events have also had an impact.
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