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More than half of small businesses in the U.S. are using social media channels to promote their businesses and products, according to a study by small-business insurer Hiscox Inc.In the Hiscox study, 53% of U.S. businesses with one to 249 employees are using social media for business purposes. However, social media adoption rises with the size of the company; 62% of businesses with 50 to 249 employees are engaging with social users. Facebook was cited as most effective by 28% of respondents, followed by LinkedIn (18%), company blogging (8%) and YouTube (6%).