Small businesses on TikTok contributed £1.63 billion to UK GDP in 2022, with regional areas outside London benefitting most, according to a new independent report from Oxford Economics, commissioned by TikTok.
TikTok launched in the UK in 2018 and has quickly become a destination for UK small businesses to reach new audiences – from disruptive beauty brands and vintage retailers, to restaurants and food businesses.
Millions of businesses showcase their goods and services on TikTok, with many using the platform’s growing marketplace, TikTok Shop.
TikTok users are highly motivated off the platform, with 47% having bought a product or service and 45% visiting a restaurant or tourist attraction as a result of seeing it on TikTok.
James Stafford, General Manager, Marketing & Operations, TikTok UKI & Nordics, said: “As this report shows, TikTok has been a huge benefit to small businesses up and down the UK, helping them find new customers, grow their businesses and create jobs.”
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