TikTok Claims $14.7B Boost for US Small Businesses in Effort to Avoid Ban

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Hoping to stall a ban, TikTok says it generated $14.7B for US small businesses last yearAs U.S. lawmakers weigh a possible TikTok ban, the ByteDance-owned short-form video app released an economic impact report on Thursday. In it, the company touts the platform generated $14.7 billion for small- to mid-size businesses (SMBs) last year, and a further $24.2 billion in total economic activity, supported through small business’s use of TikTok. In addition, it says that over 7 million U.S. businesses rely on TikTok and that 224,000 jobs were supported by small business activity on the platform in 2023. In March, a bill that could ban TikTok passed in the House of Representatives. The Trump administration had previously sought to ban TikTok, calling it a national security risk, but Trump now opposes a ban, saying that Meta would benefit.