Social media platform aims to empower entrepreneurs

CEBU, Philippines — The popular social media platform TikTok has launched a business school aimed at assisting Filipino entrepreneurs in leveraging its growing popularity among social media users worldwide to digitalize their businesses.

Through its TikTok Shop component, the platform launched a Business School feature—a comprehensive one-day program for Filipino entrepreneurs that aims to equip them with the skills to grow their businesses in the digital sphere.

The full-day program, which was attended by 50 TikTok Shop entrepreneurs, was comprised of master classes on Corporate Strategy and Business Model with Kim Lato, Founder and CEO of Kim’s Store, Financial Management with MicoPanis, Head of Marketplace Deliveries at Grab, Talent and Human Resources with Rase Eustaquio, Head of People at 917 Ventures, Brand Identity and Marketing with Jay Bernardo, President of Bayan Family Foundations, and Supply Chain Oversight with Edison Villeno, Marketing Manager for J&T.

“Small and medium enterprises (SMEs) are the backbone of the Philippine economy. TikTok Shop enables these SMEs to create a holistic and seamless e-commerce experience where buyers are entertained, educated, and engaged all at once. Through TikTok Shop Business School, we aim to open new doors for Filipino entrepreneurs to grow and scale their business,” said Toff Rada, Public Policy Head, TikTok Philippines.

Jay Bernardo, President of Bayan Family of Foundations, said the collaboration with TikTok Shop is seen to accelerate the growth of the country’s local entrepreneurs in the digital sphere.

“By providing training from industry experts as well as enabling a community of learning, we aim to elevate the growth of Filipino entrepreneurs in the rapidly evolving digital economy.”

Meanwhile, Kimstore founder and chief operating officer (CEO) Kim Lato said TikTok Shop Business School enables the growth of a diverse and inclusive Filipino e-commerce industry.

“Entrepreneurship is a powerful tool for economic empowerment and can change lives across the Philippines. I am very happy to be part of the TikTok Shop Business School to provide mentorship and share insights to up-and-coming entrepreneurs, enabling the growth of a diverse and inclusive Filipino e-commerce industry.”

TikTok Shop commits to providing Filipino entrepreneurs with the necessary support and guidance they need and equips them with the tools that will help grow their businesses. This includes TikTok Shop’s Buy Local Shop Local campaign, which was launched in-app last November to provide added exposure for local sellers across the country.

Meanwhile, DataReportal data showed that marketers can reach roughly 13.1 percent of all the people on Earth using ads on TikTok today.

Despite facing security concerns and being banned in several countries, TikTok maintains its rising popularity among adults globally.

Data published by the company’s self-service advertising tools showed that marketers could reach around 1.051 billion TikTok users aged 18 and above as of January this year.

Analysis of the available global user statistics also showed that the Philippines is among the top 8 countries with the estimated highest number of TikTok users aged 18+ in 2023.

TikTok’s ad audience can reach around 43.4 million Filipino adults who use the app—around 37.3 percent of the country’s population is among the app’s ad audience, according to an analysis by DataReportal.

Out of the total internet users aged 18 and above in the country, data analysis showed that 51 percent is included in TikTok’s ad reach. About 58.2 percent of the country’s adult population is reached by marketers through the platform’s ad service.

TikTok is a leading destination for short-form mobile video. Its primary mission is to inspire creativity and bring joy. It has global offices including Los Angeles, New York, London, Paris, Berlin, Dubai, Mumbai, Singapore, Jakarta, Seoul, and Tokyo.