The ByteDance-owned short-form video app TikTok published an economic impact analysis on Thursday, as US lawmakers consider a potential ban on the platform. The company highlights in it that small businesses’ use of TikTok supported $24.2 billion in total economic activity last year, in addition to the $14.7 billion the platform earned for SMBs.
Furthermore, it claims that 224,000 employment were sustained by small business activity on TikTok in 2023 and that over 7 million American businesses depend on the platform. Of those, 98,000 employment on TikTok were directly supported by SMBs. Illinois, Texas, Florida, New York, and California were the states most affected.
