SmallBusinessNewz

The concept of using social media for business purposes is not a new one, but it does still have a long way to go with respect to truly catching on.

Visa has partnered with Facebook to help it do just that. They have introduced the Visa Business Network, which provides a means for business owners to really dig into social networking with other businesses.

 "Visa has been working closely with small businesses for many years, and we know that they are anything but small. Small businesses have big ideas, big expectations and big ambitions. We established the Visa Business Network to help them thrive and grow," says Visa CMO Antonio Lucio.

"Working with Facebook, Visa is breaking new ground by harnessing social networking to connect business owners. We are putting the power of the network in the users' hands, and it will be fascinating to see how the community evolves,"   he added.

Visa says that the initiative is focused on three needs: connecting with others, managing more efficiently and growing business.

Apart from just utilizing the social networking of Facebook, users will have access to a plethora of helpful tools and resources:

Small business owners can access tools kits from content partners that provide easy-to-use products, including Google Docs, Google Calendar, and Google Sites, to help increase business efficiency. Small business owners can also quickly get an online presence through Google Maps. In partnership with The Wall Street Journal marketing, small business owners can also "Ask the Experts." They can connect with leading small business experts from Entrepreneur by participating in Q&A forums and expert advice columns. Also in partnership with All Business, Forbes.com, Fast Company and Microsoft, Visa is providing small business owners with exclusive access to small-business news feeds, videos, blogs and editorial commentary about issues such as cash flow management, new ways to attract customers and cost management.

Using Facebook as a marketing tool was already a good idea given the popularity of the site, provided the marketing was done correctly, but now this offering should help business owners to keep their Facebook efforts more focused and help them in areas beyond social networking.

As an added bonus, the first 20,000 users of the Visa Business Network will get $100 in Facebook Ads credit. I'd be interested in hearing some feedback on the site from those who sign up.