For all the talk about social media levelling the playing field for small businesses, here’s a question that doesn’t get much attention: Can small businesses effectively embrace social media? If so, how?

This struck me during a recent visit to Dave’s on St. Clair, a relatively new restaurant/bar in downtown Toronto. In talking to the owner about the restaurant’s efforts to spread the word, it was no surprise that social media came into play.

There are a couple of realities facing Dave’s: first, and perhaps most significant, is they don’t have a lot of time for social media. When you’re the cook and chief bottle washer, it can be challenge carving out the time for social media. Then, there’s the issue of selecting the most relevant social media service and effectively promoting it. These are both major issues and hurdles for small business owners, who have so much on their plates.

Assuming a small business does embrace a specific social media service (for Dave’s, it is Facebook), they have to figure out how much content to create and what kind of content (menu updates, deals, special events, photos, etc.). And they have to do it on a regular basis if their social media activities are going to gain a foothold and generate some traction.

As important, small businesses need to activity promote their presence on social media to ensure it resonates with as many people as possible. It means everything from putting the icon on their Web site to putting it (and/or the URL) on business cards, bills/invoices, business cards, marketing collateral, a sign on the front door and, of course, word of mouth. It’s a lot of work that needs to happen on a regular basis to get any kind of traction.

The bottom line is social media involves a lot of time and effort. This is a challenge for any company, particularly small business owners who never seem to have enough time or resources for operate the business. For small businesses, however, that do commit themselves to making social media happen, the benefits can be significant.