TikTok – Helping grow smallbusinesses across the United States

TikTok, a popular social media platform in the US since 2018, is not only used for entertainment but also as a valuable tool for small- and midsized businesses (SMBs). With over 7 million businesses among its 170 million active users, TikTok provides a platform for businesses to connect with customers and grow organically. A study conducted by Oxford Economics in 2023 found that SMBs' investments in paid advertising on TikTok drove $14.7 billion in revenue in 12 selected sectors, supporting 224,000 jobs in the US. The platform also supported a $24.2 billion contribution to US GDP in 2023, with the largest impacts seen in California, Texas, Florida, New York, and Illinois. The food and beverages sector had the largest impact on GDP and employment, followed by health and wellness and business services. TikTok's operations also generated an additional $8.5 billion contribution to GDP, $2.0 billion in taxes, and supported 59,000 jobs across the US economy in 2023.