Tag: smb

Singapore – TikTok has announced a multi-million dollar investment that will be aimed at helping SMBs transition their businesses online and participate in the digital economy. A total of US$12.2m will be used to deliver cash grants, digital skills training, and advertising credits for SMBs, including micro businesses in rural and suburban areas. 

This comes as TikTok continues to grow as a valuable platform for businesses and creators. According to research by the platform, SMBs polled increased their revenue by nearly 50% through selling their products and services on TikTok, and close to four in five businesses (79%) transitioned from offline to online marketing channels using the platform.

“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. 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,” said Shou Chew, CEO of TikTok. 

Amongst the initiatives TikTok has planned for the SEA region is the ‘Support Local’ programme where over the next three years, it aims to empower micro and small businesses, particularly those in rural areas, who may be new to social commerce. Partnering with more than 25 government agencies and non-profit organisations across the region, the programme will give businesses the opportunity to reach new digital consumers through cash grants, digital skills training, and advertising credits.

In Indonesia, it will be partnering with the Ministry of Tourism and Creative Economy, Asosiasi Pusat Pengembangan Sumberdaya Wanita (PPSW), Platform Usaha Sosial (PLUS), and Telkom to launch TikTok Jalin Nusantara. Said initiative will establish internet connectivity in community hubs across nine rural villages in East Nusa Tenggara and North Sumatra. Besides strengthening the local digital infrastructure, TikTok Jalin Nusantara will offer training programmes in these villages, as well as in five creative hubs in key tourism and creative economy centres and five Telkom IndigoHubs. 

A partnership is also on the horizon within the Bangkok market which will further support TikTok as a learning platform for users. The company has collaborated with social enterprise Kid Kid, the Ministry of Natural Resources and Environment, and Bangkok Metropolitan Administration to raise environmental awareness and action amongst youth in Thailand. This includes educational workshops and challenges on everyday sustainable lifestyle choices, such as waste segregation and energy consumption. The programme is also in line with the company’s goal of increasing educational climate content and achieving operational carbon neutrality by 2030.

Beyond on-platform education, TikTok will continue to develop the next generation of entrepreneurs, particularly youth who may not have equal access to economic opportunities. In partnership with ASEAN Foundation, the Social Enterprise Development Programme will provide capacity building, mentorship, facilitation to market, and seed funding of up to US$320,000 to 20 youth-led social enterprises in the region, contributing to UN Sustainable Development Goals in Southeast Asia.

“In just over six years, we have created new avenues for income generation for both creators and businesses on the platform. We have also introduced e-commerce channels such as TikTok Shop, which allows SMBs to connect with new consumers and grow their businesses,” said Teresa Tan, head of public policy for Southeast Asia. 

“Our mission to inspire creativity and bring joy is firmly rooted in our desire to enable discovery, growth, and connections among individuals and communities in Southeast Asia. Today’s newly-formed partnerships and initiatives will expand our efforts to empower micro and small businesses who may face limited access to digital resources and opportunities. We are grateful for the support we’ve received throughout the region and are excited about the future impact we can make together,” added Tan. 

With a workforce of close to 8,000 employees across the region, TikTok also shared that it is committed to investing in developing local talent. Initiatives such as the regional TikTok Shop Graduate Development Programme, aimed at building talent for the e-commerce industry, and Singapore’s TikTok Tech Immersion technical boot camp for tertiary-level students, offer opportunities for young tech talent to thrive. 

Singapore – TikTok has introduced Follow Me, a multi-channel global programme aimed at driving awareness and helping small-and-medium businesses (SMBs) in Asia leverage the power of TikTok to drive business success. With Follow Me, brands will be able to integrate the diverse and creative formats available on TikTok into their marketing strategies to involve, connect, and engage with the massive audience base available on the platform.

The 6-week program will run from end-June to early August and provide SMBs with guidance on how to get started on TikTok as well as tips and insights from existing users on the platform. In other words, Follow Me will serve as a guide for SMBs looking to translate their stories into creative videos and build their own community on the platform.

Esme Lean, head of small and medium businesses at TikTok APAC, shared, “SMB owners wear an endless number of hats ‒ from CEO to head of marketing to being a friendly neighbour and pillar of support to their peers. We recognise that many of them have a lot to juggle, and Follow Me will provide SMBs with the knowledge and understanding they need of TikTok to effectively utilise it as a launch pad to supercharge their growth.” 

With the platform’s large, multi-layered ecosystem of creators and communities, this programme will help SMBs get acquainted with newfound consumers as they discover new brands and share these fresh finds with others.

To help SMBs access the resources to kickstart their journey on TikTok, TikTok is creating a dedicated splash page on July 7 that includes tutorials from other small businesses from the region – namely beauty, health, and wellness company Fondokmai, sauce producer Purefoods, learning centre Step Up English, cosmetic brand Alive Lab, bakery Goldelucks, and handbag brand Oktaviana Tas Grosir – where they will be charting their personal journeys on TikTok, on top of providing tips on how to best tap into the power of community and entertainment to win the hearts of consumers online.

The splash page will curate different learning roadmaps based on visitors’ goals, in addition to directing SMBs to a 6-week email series that will outline the best practices for running their first-ever TikTok campaign as well as integrating their brand’s story into their videos. This will include directions to set up a free Business Account, access to the Creative Centre for content inspiration, and insights into how TikTok’s Ads Manager and Promotion features can be leveraged to further reinforce campaign outcomes.

Nitchakran N., VP of Purefoods, shared, “TikTok has definitely been a strategic partner for us at Purefoods. This powerful platform has supported us in creating authentic connections with our customers – acting as a key communication tool, in addition to a future sales channel. The support from TikTok has enabled SMBs like us to be stronger and we are truly grateful to have this partnership in place.”

Regina, owner and founder of Oktaviana Tas Grosir, commented, “TikTok is definitely the best marketplace for small businesses like mine. I’m grateful and overwhelmed with this growth opportunity as well as the huge number of orders coming in from TikTok every day, so much so that we’ve had to open three additional warehouses, on top of expanding our team.”

Singapore—Small-medium enterprises (SME) in Asia Pacific are slowly making their way into being adoptive to today’s business changes across the digital transformation sphere, according to a report from IT and networking company Cisco and market intelligence firm IDC.

With more than 1,400 respondents across APAC SMEs, the report found out that there is a significant increase for digital adoption, showing a 16% growth for SMEs willing to integrate more digital transformation strategies, compared to the 11% growth last year.

On the other hand, 53% of SMEs showed initial willingness to be ‘observant’ at first for their small modern digital changes, while 31% of SMEs showed reactiveness to move into the digital market and are slow in their own transition.

The current COVID-19 pandemic proved to be one of the major reasons for digital transition of SMEs, as statistics showed that 94% of SMEs showed reliance on technological measures for their businesses. In regards to using digital business measures as a way to make roundabout on disruptive events i.e. the pandemic, 55% percent said that such measures are important and are crucial for the business framework.

Some of the leading goals for digitalization of SMEs include market expansion, improved customer experience (CX), prototype kickstart/startup, supply chain, among others.

Cisco estimates that with willingness from SMEs to conduct business presence online, such enterprises are forecasted to   bring $2.6–$3.1 trillion in GDP across Asia Pacific, suggesting faster economic recovery by 2024.