In this paper, we will talk about the impact of social networks in business, their advantages and disadvantages. We are witnessing a modern-day technology and the opportunities that it provides us. The development of computers and the Internet we come to the creation of various social services - social networks. Their primary goal was to connect people in a quick and simple way and allow them to share content in a short period of time. Besides the life of individuals, social networks have changed the way we do business. They have enabled companies an instant access to its customers as well as new customers and a quick way to get feedback. One of the advantages of social networks is that companies can get to the target audience in a short time by using various tools and one of the most important is targeting specific groups of people based on specific characteristics such as age. Also, it will be talked about the impact on tourism and the importance of high-quality photos and use the hashtag's, as well as the factors affecting the business. A large number of advertisements daily attracts the attention of many potential customers, and social networks allow cheaper advertising and achieve far better results than the ones that would be achieved through other advertising channels. It is necessary to devise creative ways of advertising and isolate itself from the competition, and with the rapid and specific customer feedback, today it is easier than ever.