Starting a new business? Get 40% off our accountancy services for 3 months! 😀

x

According to a study commissioned by Facebook, the social networking site has created 35,200 jobs and boosts the UK economy by £2.2 billion annually. The report was conducted by Deloitte, who released the report in Munich at the DLD conference.

The research studied the impact of Facebook on the UK economy, both direct and indirectly. Direct impacts include the wages of employees, profits and the tax paid. Indirectly, Facebook has helped businesses to increase their custom base and even increase the demand for technology like smartphones and broadband. Sheryl Sandberg, the chief operating officer at Facebook said:

“Today’s report shows that Facebook is about a lot more than sharing pictures or keeping up with friends. Increasingly, social media means growth and jobs. Social media is proving particularly valuable for small- and medium-sized businesses, which form the backbone of the European economy.”

Facebook pages are typically launched by small businesses in order to boost their companies and advertise. According to the figures from Facebook, 18,400 UK jobs are supported by this, and have an annual value of £1.14 billion in benefit to small businesses. Companies also rely on the creation of games and applications to gain access to Facebook users, creating an “app economy” worth £467 million.

The report also reveals that sales in technology have also increased significantly, as users of the social networking spend on devices and broadband. Global revenue for Facebook in 2011 is estimated at £2.5 billion, while the UK revenue is estimated at around £200 million.

guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

June 2022 Client of the Month: Manea Kella

This month we spoke to Adrian Manea, architect and director at Manea Kella, a London based RIBA Chartered architecture and interior design…

Read More

Succession Planning for Business Owners: What Comes Next?

When you own a business, it’s extremely normal to feel like you’re surviving one day to the next – ‘winging it’, as…

Read More

The Accountancy Partnership – Our Positive Reviews

Here at The Accountancy Partnership, we’re proud of our customer reviews The reviews we receive from our customers show how hard we…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You only need this service if you want us to complete the bookkeeping on your behalf.

Would you prefer to complete your own bookkeeping?

Yes
No

Call us on 020 3355 4047 if you’re not sure.