Facebook "worth £1.1bn to UK economy" Overall, the study suggests that Facebook has contributed £2.2 billion, to UK GDP and £12.7billion across the EU. The social network claims the "App economy" alone is worth £467m to the UK and generates 7,500 jobs. Although Sandberg called the impact of social media is "a bright spot in challenging times," she warned that "growth won¹t 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. Deloitte produced its figures by combining Facebook's direct effects on the economies of the UK and Europe, through its own staff and those of directly related companies, with the associated effects of the social network's value as an advertising medium, platform for apps and driver for sales of technology such as broadband, mobile phones and other connected devices. Facebook has announced £4.2 million worth of advertising credits to help 50,000 small businesses across EU, as well as partnerships with British Chambers of Commerce and Enterprise Nation. The social network has also joined the "Next Gen Skills" campaign which trains young people "to join and lead the UK's digital, creative and hi-tech industries" and said it would produce a report on the UK's "digital skills gap." Businesses can currently set up pages for free, but must pay for advertising. David Richards, Director of Operations for British Chambers of Commerce, said he believed Facebook's programme to show companies how to use it effectively would be successful. "Small businesses are keen to learn how they can use Facebook to maximise growth, even in these difficult times," he said.