TikTok invests $12.2m to support SMBs in Southeast Asia

The amount will benefit around 120,000 small businesses in the region.

Social media platform TikTok is investing $12.2m for over three years to guide over 120,000 as they transition their businesses online and operate in the digital economy.

In a statement, TikTok said that through its “Support Local” programme, it will partner with over 25 government agencies and non-profit organisations in the region to provide cash grants, digital skills training and advertising credits to small and micro businesses in rural and urban areas.

“Across Southeast Asia, more than 325 million people come to TikTok every month and 15 million businesses use the platform. The role we've played in expanding economic opportunities, education and community-building in this region and around the world is immense,” said TikTok CEO Shou Chew.

“We are excited to see the positive impact TikTok has had and are committed to continuing the work of helping individuals, communities, and businesses grow and thrive," he added.

The platform is also committed to developing local talents through its various initiatives such as the TikTok Shop Graduate Development Programme, available in Indonesia, Thailand, Vietnam, Singapore, Malaysia, and the Philippines.

In a survey, TikTok found that almost half of small businesses sell their products and services through the platform and around 79% utilised it to transition from offline to online marketing channels.

Over 80% of TikTok creators surveyed said they increase their incomes through platforms such as TikTok LIVE and brand sponsorships.