Facebook’s Local Awareness ads only allow targeting all users withing a defined location. They do not allow you to target specific individuals for local awareness ads. They claim it is for privacy reasons. See this page for more details:
https://www.facebook.com/business/ne…ocal-awareness
The best way I have found to target businesses with local awareness ads is to use images and ad text that is likely to only attract clicks from businesses. In other words, use the content of your ad to narrow the audience engagement to your narrowly defined market segment.
Try phrases like “Exclusive for Business Owners”, “Small Business Special”, “Exclusive Offer For Business Owners”, and similar.
