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How Banning TikTok Will Impact Small Businesses

Photo from antonbe via Unsplash

How Banning TikTok Will Impact Small Businesses

By Movieguide® Contributor

TikTok’s ban in the United States is looming, and content creators who make their living off the app are voicing their concerns about what will happen when it goes into effect.

Cora Lakey quit her six-figure job to become a full-time influencer and believes the ban will be life-changing for other creators like her.

“I was, I would say, equaling my corporate salary for about three months before I took the leap to quit,” she explained.

“TikTok has allowed her to pay off some of her student debt. Unlike her corporate job, becoming a full-time TikTok creator has also provided her autonomy over how she spends each hour of her day,” NPR reported.

In a TikTok video, she spoke out about criticism that TikTok creators just need to “get a real job.”

“Influencers aren’t out of touch for crying about the TikTok ban. You’re out of touch for not realizing this is a real industry,” she said.

She’s not wrong. In fact, eliminating TikTok would subtract over a billion dollars from small businesses.

“Some would argue that with TikTok shutting down, they could wipe out about $1.3 billion in U.S. small business and creator revenue within just one month,” said Nicol Turner Lee, senior fellow in governance studies and director of the Center for Technology Innovation at the Brookings Institution.

READ MORE: TIKTOK BAN WOULD GO INTO EFFECT AFTER PRESIDENTIAL ELECTION

President-Elect Trump is trying to delay the ban from taking effect.

“Trump, who has sounded a much more favorable note on TikTok in the last year, is now calling for the Supreme Court to delay the implementation of a potential ban, which is set to take effect on January 19,” Vox reported.

President Biden signed the bill potentially banning the app last year, citing national security concerns.

“The app gathers a lot of personal information from users, and lawmakers say they are concerned about the Chinese government spying on American users, or manipulating the platform to advance its own interests,” NPR said.

TikTok has pushed back, citing First Amendment rights.


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