TikTok ban would hit many users where it hurts — their pocketbook

Delyanne Barros has a batch riding connected whether TikTok survives successful nan U.S. The 41-year-old individual finance and money coach, who built a financial consulting institution from nan crushed up, said a ban of nan celebrated societal media app could swipe retired arsenic overmuch arsenic 30% of her business overnight. 

Barros, who goes by @delyannethemoneycoach connected TikTok, isn't judge if she'd moreover beryllium moving her ain business coming were it not for nan Chinese-owned app, which faces a imaginable prohibition if a bill passed by nan House on Wednesday yet makes it into law. 

"I started my business successful January 2020 and went afloat successful connected TikTok," Barros told CBS MoneyWatch. "That's wherever a batch of my contented started going viral, and it catapulted my business. It was an integral portion of really I grew it successful nan beginning," 

TikTok doesn't salary Barros directly; rather, it's really upwards of 30% of her clients find her and yet acquisition her investing course. The remainder of her clients person recovered her done different societal media apps, net searches and connection of mouth. She besides makes money done brand-sponsored posts connected societal media platforms including TikTok.

"A prohibition would consequence successful maine losing a awesome portion of my business. I would decidedly consciousness a hit," she said.

Barros is hardly alone. Many of TikTok's 170 cardinal monthly progressive U.S. users trust connected nan app to make secondary and moreover superior income streams. That includes 7 cardinal mini businesses that usage nan level to thrust growth, according to a joint report from Oxford Economics and TikTok released Wednesday. 

Thirty-nine percent of mini businesses opportunity that entree to TikTok is captious to their businesses' existence, while different 39% opportunity TikTok has allowed them to make supplemental aliases main incomes done their activity connected nan app, according to nan report. Sixty-nine percent of mini businesses opportunity TikTok has led to accrued income successful nan past year. 

"It's really group observe us"

Tori Dunlap, laminitis of a money and profession level Her First $100K, said TikTok "was perfectly fundamental" to nan maturation of her business, securing a book woody and launching a podcast. Her viral videos person helped her amass 2.4 cardinal followers connected TikTok complete 4 years. Her fame connected nan level has besides led to lucrative marque partnerships and caller clients for her coaching services. 

"TikTok is nan apical of nan chimney successful position of our customer journey. It's really group observe us," Dunlap told CBS MoneyWatch.

Sophie Beren, laminitis and CEO of The Conversationalist, an acquisition level that empowers young group to person conversations and create community, said banning TikTok would beryllium "devastating" for contented creators who usage nan work to make money. 

"They are struggling pinch a imaginable prohibition because we are surviving successful a world wherever it's intolerable to person 1 accepted way for income. The accepted way for young group doesn't guarantee economical occurrence aliases stableness for illustration it utilized to," Beren said.

Tiffany Yu, laminitis of Diversability, a for-profit defense group and organization supplier for group pinch disabilities, is besides acrophobic of what a imaginable prohibition would mean for her business.

Yu's defense group makes money trading memberships and done firm sponsorships. She credits TikTok pinch increasing her scope ample capable to unafraid awesome marque partnerships, including deals pinch Hilton and Dove. All told, nan deals acquired done TikTok relationship for much than 50% of Diversability's revenue. 

For Yu, a prohibition could mean going backmost to her bootstrapping roots, erstwhile she made ends meet successful nan early days of moving Diversability by renting portion of her flat and trading utilized furniture. "I would for illustration to not person to spell backmost there, but if that's what we had to, past we would do it," she said. 

Barros, nan money coach, said that while a TikTok prohibition would wounded her business, it wouldn't destruct it. "Like immoderate business, you request to diversify, and I usage Instagram and Threads and each nan different platforms, too," she said. 

But TikTok offers a unsocial advantage for group for illustration herself, Barros said, because its algorithm is much effective astatine feeding audiences tailored contented that they're apt to prosecute with.

Still, she's preparing for a imaginable TikTok ban. "I usage different platforms, but I person besides been building an email database that I own," Barros said. "I consciousness unafraid that my business will proceed to turn and thrive."