While small business does not have the support or the foothold of a larger company, it does not mean that there is any less of a chance that an action could be taken in the wrong direction. Social media will not replace every aspect of an advertising plan, but it still can be a part of it. If it is free, used by millions, so taking advantage of it to get a foothold can be a start to something larger.
P & G decided to not take advantage of social media options, like advertising on Facebook. This is after spending $10 billion on their annual advertising budget, up 24% in the past 2 years. This is on the heels of delaying the release of a new product, long enough that competitors have been able to create similar products.