It's actually more than that- without Tiktok, not only might Kathy's Kwirky Kupcakes and all other small businesses cease to exist (after all, they never existed before Tiktok, did they?) but nobody will give to charity anymore. Hell, nobody will even TALK to each other any more. The world will fall into chaos if this particular property of the Chinese Communist Party is banned in the United States. I wouldn't be surprised to see the Four Horsemen of the Apocalypse riding through the sky as cats and dogs marry each other if the ban goes through.
Let's be honest, shall we? This has nothing to do with small businesses, charitable foundations, or any of that stuff which was doing just fine before this particular brain worm infested American culture starting in the late summer of 2017. It doesn't even have to do with what Tiktok is primarily used for in my wonderful country- for Main Characters to blather their narcissism to the planet in the desperate hope of being found interesting by another human being for once. Nope, this investment to convince Americans that Tiktok is a vital part of what they pathetically refer to as their "lives" has to do with our principle economic and military rival's natural right to mine information from the residents of the richest nation on Earth.
I don't want an American company to have access to my private information, but I'd rather replace the walls of my home with glass than hand over my favorite flavor of ice cream to China, thanks anyway. And all you wannabee Henry Fords and pop stars who think that your selfish interests are more important than privacy- you idiots disgust me to no end. Grab your passport, pack it away with your self-importance and head for more inviting shores. Neither you nor your sacred small business will be missed.