TikTok Shop has announced a new initiative aimed at supporting small and medium-sized businesses (SMBs) on its platform. The Supporting Our Artisans and Retailers (SOAR) Together program will provide tailored support and resources to help SMBs and creators succeed on TikTok Shop.

Nico Le Bourgeois, Head of TikTok Shop Operations in the US, said, “It’s important that entrepreneurs of all backgrounds on TikTok Shop feel supported in order to continue thriving in their creative and business endeavors. That’s why we’re extremely proud to unveil SOAR Together, our newest social impact program offering entrepreneurs tailored resources, mentorship, and networking opportunities in partnership with renowned organizations and professionals. By the end of the program, we hope participating sellers and creators feel even more empowered for the endless possibilities ahead for them on TikTok Shop.”

The first two social impact programs under this initiative are designed to support women-owned and LGBTQIA+ businesses.

Supporting Women-Owned Businesses

The Women-Owned TikTok Shop Accelerator is a six-week program aimed at helping women-owned small businesses grow. According to the TikTok Economic Impact Report 2024, 81% of young female entrepreneurs under 30 believe that improving their TikTok marketing content is necessary to stay competitive. To support these entrepreneurs, TikTok Shop selected 15 US businesses to participate in the program.

TikTok Shop is partnering with the Conscious Commerce Accelerator (CCA) and the Association of Women’s Business Centers (AWBC) to provide mentorship and growth opportunities. Tina Wells, a renowned retail and marketing industry thought leader, leads CCA. AWBC is the leading national voice for women’s entrepreneurship.

Participants in the Women-Owned TikTok Shop Accelerator will attend custom courses on key business skills, including TikTok Shop basics, sales review, social media metrics analysis, engaging with influencers, and expanding profitably. A ceremony honoring program graduates will take place later this year.

Supporting LGBTQIA+ Entrepreneurs

TikTok Shop has also partnered with StartOut to support LGBTQIA+ entrepreneurs. This initiative will provide scholarships for 30 LGBTQIA+ owned businesses in the US. Participants will gain insights on growing and scaling their businesses through StartOut’s Founders Program.

TikTok Shop’s partnership with StartOut will provide education, mentorship, and networking opportunities to help these businesses thrive.

Image: Depositphotos

This article, “TikTok Shop’s SOAR Together Program Boosts SMBs” was first published on Small Business Trends