TikTok says small businesses generated billions on its platform in 2023

Posted under: SMB
Date: 2024-03-25
TikTok says small businesses generated billions on its platform in 2023

TikTok released a self-funded report claiming small businesses generated $14.7 billion in revenue through its platform in 2023. The study, conducted by Oxford Economics, surveyed 7,500 users and 1,050 small business owners. It concluded TikTok contributed $24.2 billion to U.S. GDP, with small companies paying $5.3 billion in taxes. Despite bipartisan support for a bill requiring TikTok to sell to an American firm due to security concerns, its impact on small businesses is acknowledged. However, skepticism arises regarding the study's methodology and transparency, especially given the potential for bias in corporate-funded research. While the platform's contribution to the economy is evident, the accuracy of its financial impact warrants scrutiny, particularly concerning the study's small sample size and potential conflicts of interest.

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