Study: Nearly 60% of Black-owned SMBs call TikTok a lifeline

TikTok has become a source of enjoyment yet also it is a lifeline for a lot of small and medium-sized enterprises in the US, particularly those run by people of colour. — AFP

For many people, TikTok is a source of entertainment. But for many small and medium-sized businesses in the United States, especially those owned by persons of colour, it's a financial lifeline.

A new study from Oxford Economics found that 57% of Black-owned SMBs (Small Businesses) say their access to TikTok is "critical to their business's existence," followed by 47% of Asian-American and Pacific Island-owned SMBs, and 44% of Latin and Hispanic-owned SMBs.