TikTok has rapidly become a thriving platform for small and medium-sized businesses (SMEs) in the UK, with almost 1.5 million firms, including family businesses and emerging ventures, using the platform to boost their business. The platform, which launched in the UK in 2018, has become a home for businesses of all kinds and sizes to reach new audiences and promote their products and services.
TikTok’s UK business community platform includes a wide range of SMEs such as butchers E.V Slack & Sons and bakers Ooh & Aah Cookies. These businesses, along with many others, are featured on a new website showcasing SMEs that are creating authentic, and engaging content on TikTok.
TikTok is keen to support the success of small businesses from diverse backgrounds, with 38% of SMEs on the platform having ethnic minority ownership, compared to 26% of all SMEs.
The platform provides training and support for entrepreneurs on its SME hub, where 25 businesses are showcased. This hub serves as a valuable resource for small businesses and startups seeking information and inspiration on using TikTok to grow their business.
@tiktoknewsroom
image courtesy of TikTok
Research from Oxford Economics indicates that activity by small and medium-sized businesses on TikTok contributed £1.63 billion to the UK GDP last year and supported 32,000 jobs.
Hashtags like #TikTokMadeMeBuyIt have garnered over 74 billion views, making TikTok a destination for discovering trending products in various categories.
Why is this important?
The success stories of small businesses like Ooh & Aah Cookies, showcase how TikTok has become a significant eCommerce sales channel for SMEs. For example, Ooh & Aah Cookies now generates over half of its revenue through TikTok sales.
Rich Waterworth, General Manager, Operations Europe at TikTok, commented, “Our TikTok business community in the UK is going from strength to strength and we’re humbled by the sheer number of businesses using our platform across the country. This ranges from household name brands like Tesco and NatWest to a huge variety of small and medium-sized businesses who are seeing phenomenal success on TikTok, telling their stories in a more creative and authentic way and finding new customers for their products. In today’s economic climate, businesses have to balance many competing priorities, but the need to reach new customers and drive growth never goes away. I’m excited to welcome even more diverse companies on to TikTok in the future.”