Empowering ASEAN's SMEs with financial literacy: TikTok expands ASEAN SOAR Together program to build confident, resilient digital businesses

TikTok is deepening its commitment to inclusive digital growth across Southeast Asia by anchoring financial literacy training as a core pillar of the ASEAN SOAR Together program, developed in partnership with the ASEAN Foundation.

With over 70 million MSMEs across ASEAN, accounting for between 97.2% and 99.9% of total establishments, small businesses form the backbone of the region's economy [1]. Yet many continue to face barriers to digital adoption, from navigating fragmented payment systems and cash flow challenges to protecting their operations from online fraud and scams. Research shows that limited access to working capital and financial know-how often prevents small businesses from expanding, even when demand is strong [2]. Financial literacy has emerged as a critical bridge: when entrepreneurs understand how to manage cash flow, mitigate risk, and make informed financial decisions, they are better positioned to grow, hire, and contribute to their local economies.

The second year of the ASEAN SOAR Together program directly addresses this gap - the program has scaled up to train up to 1,000 micro, small and medium enterprises (MSMEs) across all 11 ASEAN member states, and has added important financial literacy training to the curriculum to strengthen the digital skills of MSMEs and give them the confidence to grow sustainably in the digital economy.

"At TikTok, we believe that digital inclusion means more than just giving small businesses access to customers - it means giving them the knowledge and tools to thrive with confidence," said Ms. Chanida Klyphun, Director of Southeast Asia Public Policy, TikTok. "That's why this year's ASEAN SOAR Together program places financial literacy front and center. We're not just teaching sellers how to go live or run a digital marketing campaign. We're training them to manage their business finances holistically, protect themselves from risks, and scale safely - because a strong business is built on both reach and resilience."

A five-pillar curriculum built for digital sellers

This year's expanded program introduces a comprehensive financial literacy workshop that centres on five practical pillars, designed specifically for MSMEs operating on TikTok Shop and in the broader digital economy. Developed alongside industry and payment experts from the ByteDance Global Payment team, the modules move from foundational habits to advanced growth strategy, giving sellers a framework they can apply immediately.

These financial literacy components complement the program's existing training in live selling, e-commerce operations, and digital marketing - creating a holistic curriculum that addresses both the growth and operational sides of running a digital business.

"Financial inclusion is about opening doors for entrepreneurship and financial literacy is the key that opens those doors," said Baohua Liao, Head of Global Payment at ByteDance. "MSMEs face real challenges in the digital economy, from fragmented payment systems to fraud and scams. Our role goes beyond providing financial infrastructure -- it's about making sure small business owners have the knowledge to use these tools safely and effectively. When we combine secure, reliable payment rails with practical financial education, that's when inclusion becomes real impact."

A story of growth, from curtains to community impact

The difference that financial confidence can make is visible in the journey of sellers like Erwin, owner of La Chica's, a Filipino family business that makes handmade curtains. What started as a small offline shop grew dramatically after joining TikTok Shop, but the real transformation, Erwin says, came from understanding how to manage growth financially.

Today, La Chica's conversion rates outperform their category benchmarks, and the business has grown from 10 employees to nearly 100. Many of those workers can now afford to send their children to university or build homes of their own - a ripple effect that extends far beyond the business itself.

"Across ASEAN, MSMEs don't just drive economic growth - they shape stronger, more resilient communities," said Dr. Piti Srisangnam, Executive Director of the ASEAN Foundation. "Through ASEAN SOAR Together, we're helping entrepreneurs build the confidence and capabilities they need to grow in an increasingly digital world. Financial literacy is a critical piece of that - because when small business owners understand their finances, they don't just build better businesses. They build better futures for themselves, their employees, and their communities."

More details and application information can be found here.

Sources:
(1): Source: ASEAN Website
(2): Source: ASEAN Secretariat, ASEAN MSMEs in Figures; Asian Development Bank 2024
(3): Source: Factors Affecting Micro, Small, and Medium-sized enterprise development in Southeast Asia; Asian Development Bank 2024