Marketing analysts at eMarketer.com expect spending on display advertising for sites such as Facebook to rocket by 70 per cent or more worldwide this year.
This will take their share of online advertising to almost 11 per cent, meaning that business owners will have more opportunities to increase communication with their clients or customers.
Total advertising spending on social networks could go up by as much as 55 per cent.
"The primary driver of the change in projected spending is greater ad spending on Facebook, by far the biggest player in the space," said eMarketer.com.
Facebook reached 500 million users worldwide last year.
However, anyone using a social network as part of a business plan will need to consider security too, as a recent report from Sophos found that two-thirds of users have been spammed in the past year, while many have also received malware.