PeoplePerHour.com recently announced the results from their major annual survey, consisting of 1300 small businesses.

Their survey indicated 91% of respondents actively using social networks (like Facebook, Linkedln and Twitter) for business purposes, an increase from 60% in last year’s survey.

According to Facebook’s Chief Operating Office Sheryl Sandberg 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. Social media is proving particularly valuable for small- and medium-sized businesses, which form the backbone of the European economy.”

Xenios Thrasyvoulou, PeoplePerHour.com Founder & CEO advised , “Those analysts questioning the predicted $100 billion valuation of Facebook should take note of the fact that Facebook is much more than just a social network,” he says.

“There’s a perception that Facebook is almost exclusively used for personal relationships, but that couldn’t be further from the truth. As our survey findings demonstrate, Facebook is an increasingly crucial technology for businesses as well.”