TikTok Commits $2 Million to Support Small Businesses and Empower Entrepreneurs

May 7, 2023

In celebration of National Small Business Week, TikTok has announced a commitment of $1 million each to the Hispanic Heritage Foundation (HHF) and Black Girl Ventures, two organizations focused on empowering entrepreneurs and fostering economic growth.

This investment, along with a series of workshops and in-app programming, aims to bolster small businesses and cultivate the next generation of entrepreneurs.

TikTok has become a valuable platform for small businesses to grow and thrive, even during uncertain economic times. Jessica Tran, founder of @jtmobiledetailing, revealed that 60% of her customers choose her car detailing shop because of her TikTok presence. Similarly, Jaz & Sam Sears, owners of @aztaco.king, have expanded their business from a single food cart to two restaurants in under six months.

Recognizing the potential of TikTok for small businesses, the platform has decided to invest in the Hispanic and Black communities. TikTok is investing $1 million in the Hispanic Heritage Foundation to elevate entrepreneurship in the Latin community. The organization is dedicated to cultivating leadership, education, and entrepreneurship among Latin individuals. TikTok and HHF will work together to launch a suite of programs designed to empower young entrepreneurs and small businesses across the country with education and capital.

TikTok is also investing $1 million in Black Girl Ventures, an organization that provides economic growth opportunities to Black and Brown women across the United States through education and access to capital. This partnership will support the organization’s community programming, including entrepreneurship education, leadership development, networking, and funding opportunities, as well as inspire the next generation of Black and Brown women entrepreneurs through their HBCU initiative.

Omi Bell, President and CEO of Black Girl Ventures, highlighted the importance of platforms like TikTok that allow small business owners to “flex their authenticity, gain access to new networks, and grow their business on their own terms.”

In addition to these investments, TikTok is hosting a four-week virtual workshop series called TikTok Takeoff Webinar Series. The workshops, which start on May 10th, will share stories, strategies, and advice from successful TikTok creators on how to engage with audiences and translate online success into real-world business results. Businesses of all sizes are welcome to attend and learn from these creators. To sign up or learn more, visit https://www.tiktok.com/business/en/events/small-business-month

This article, “TikTok Commits $2 Million to Support Small Businesses and Empower Entrepreneurs” was first published on Small Business Trends



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