Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
It's Colorado's Morning News. Chad Bauer in four Gene It's
day alongside Marty Lens. The Trump administration sweeping tariffs replaced
in hopes for American business to sell more locally, but
in actuality, are they an opportunity or a burden?
Speaker 2 (00:15):
Joining us now in the KA Commaspirit of Health Hotline
to discuss her experience with tariffs as chief executive officer
of the Women's Business Collaborative, it is Gwen Young. Gwen,
thanks for coming on Colorado's Morning News. Our business and
money editor Pat Wood are joining us for this discussion. Gwen,
just from the jump from one hundred thousand foot level,
you're collaborative. Are they concerned? Are you concerned about the
(00:35):
Trump tariffs?
Speaker 3 (00:37):
Good morning? Yeah, Women Business Collaborative is concerned about the
Trump tariffs. In sense done about forty percent of our
part of our collaborative happened to be women owned in
small businesses, So this is really impacting their ability to
build their business and you know, grow their local economy.
Speaker 4 (00:54):
I'm not sure people realize just how many businesses worldwide
are either owned by or led by women, and especially
when you consider so called micro enterprises. What are those
and how could tariffs affect those entrepreneurs.
Speaker 3 (01:08):
Absolutely to your point, you know, women owned businesses are
about thirty nine percent of all businesses in the economy, right,
so that's a big deal. They're also concentrated in things
like consumer goods, you know, apparel, food and so forth,
so you know, it's a large impact on themes. And
you know, the reality is these smaller businesses just don't
(01:29):
have either the negotiating power, the access to capital and
finance to be able to really negotiate and weather through
you know, teriffs or uncertainty and tariffs in the way
that sort of the larger you know, luxury brands and
kind of global businesses have. So this is a really
difficult time but for a significant portion of our economic
activity and people that provide you know, anything from food
(01:51):
to good to services to clothing to toys.
Speaker 1 (01:54):
So, Gwen, what can small businesses do to try to
help mitigate the impact of these terror us?
Speaker 3 (02:02):
You know, I think at this point a fair amount
of them are you advocating, asking for exemptions, right and
trying to really see what they can do. Some of them,
I think are looking for you know, the larger businesses
or if they're part of supply chain. How do they
get support from different businesses within the sector. How do
they collaborate with one another in order to be able
to either produce their goods or weather through the storm,
(02:25):
because not all of them, as I said, can pass
it along to consumers, and many of them are waiting
to see whether, you know, government or the private sector
can help support them through this time. Because even if
we were to shift to produce something like packaging, which
is not produced in the United States, that takes time
and cost, and many businesses you know, don't have that time.
(02:45):
But that's still going to require capital and partnerships in
order to be able to build new new types of
industries to keep small businesses a lot.
Speaker 2 (02:52):
I want to go there because that was one of
the intents of the tariffs. One of the many that
we here tossed about all the time is REA shoring
things to be made here. But from your perspective with
some of these small businesses, when even if they're not
necessarily creating on their own, the manufacturing piece, the encouragement
to buy things here locally, how realistic is it for
some of your small business for some of that collaborative
to be able to buy domestically because some things probably
(03:13):
aren't to your point, available here to do so.
Speaker 3 (03:17):
Absolutely, I think it depends on the business here in obviously, right,
But there are certain things, Like I said, packaging, that's
one of those things that's just you know, not produced
or manufactured here. So if you need packaging, where are
you going to go? Clothing? You know, we're the world's
largest importer of clothing, so we're going to have to
look at where do you find out who's going to
start producing clothing again, So it really depends on you know,
(03:39):
the types of businesses that you're in, and that's where
businesses are looking around and figuring this out. And don't
forget we took a shock during COVID to small businesses
and rising prices in other areas like food and you know,
basic necessities you know, make up, clothing, tupas and underwear
makes it really difficult for these small businesses. It's not
like you can turn around and say, you know, I'm
(04:00):
to buy from this person producing this good important right,
because it's simply not there.
Speaker 4 (04:05):
Networking is so important for any small business or any
business really large or small, but the smaller women owned
businesses do they face unique challenges to access professional networks.
Speaker 3 (04:17):
They do face unique challenges, and we sort of laugh
and say, you know, we talk about the old boy network, right,
but women owned businesses don't have that same robust network.
And what that network gives you is partnerships. It gives
you access to capital and finance. It gives you ability
to advocate for or build a supply chain. So you
(04:37):
really don't have that same negotiating power if you don't
have that network that you can shift your business, whether
through something like the terraces right or or keep your
products moving as quickly as the other large companies or
the male owned businesses that have access to larger networks.
Speaker 2 (04:55):
Gwen and wrapping up with you, I realized many of
these small businesses have been bootstrapped by the owners of
tea point they they're not flush necessarily with the funds
that big corporations have. So to the point of that,
how many of these businesses may be on the fringe
of going away because the uncertainty with tarots and con
tariffs and conversely, how long do these businesses hold out
before they or can they before they pass along these
(05:18):
costs to consumers so they can survive.
Speaker 3 (05:21):
It's interesting you mentioned bootstrap because women owned businesses, no
matter what size, still have access to less than two
percent of all capital, So that's a big deal. And
just have the finance that they have access to. So
what that means right now is either you pass along
the price to the consumer and the consumer will about
that price, or you may have to shutter. So this
and we're talking about, you know, a thirty sixty day window, right.
(05:41):
This is not an iPhone, this is not a large car.
This is you know, every day items that people are using,
are in everyday service in your neighborhood. So I think
we really have to have some immediate evaluation. We have
to look at immediate support for those businesses from state, local,
and federal government, and we have to be able to
talk about the impact of small businesses as we're doing today.
Speaker 1 (06:02):
Gwen Young is the chief executive officer of the Women's
of the Women's Business Collaborative. Thank you so much for
your time and your expertise this morning.
Speaker 3 (06:11):
Thank you have a great day.
It's Colorado's Morning News. Chad Bauer in four Gene It's
day alongside Marty Lens. The Trump administration sweeping tariffs replaced
in hopes for American business to sell more locally, but
in actuality, are they an opportunity or a burden?
Speaker 2 (00:15):
Joining us now in the KA Commaspirit of Health Hotline
to discuss her experience with tariffs as chief executive officer
of the Women's Business Collaborative, it is Gwen Young. Gwen,
thanks for coming on Colorado's Morning News. Our business and
money editor Pat Wood are joining us for this discussion. Gwen,
just from the jump from one hundred thousand foot level,
you're collaborative. Are they concerned? Are you concerned about the
(00:35):
Trump tariffs?
Speaker 3 (00:37):
Good morning? Yeah, Women Business Collaborative is concerned about the
Trump tariffs. In sense done about forty percent of our
part of our collaborative happened to be women owned in
small businesses, So this is really impacting their ability to
build their business and you know, grow their local economy.
Speaker 4 (00:54):
I'm not sure people realize just how many businesses worldwide
are either owned by or led by women, and especially
when you consider so called micro enterprises. What are those
and how could tariffs affect those entrepreneurs.
Speaker 3 (01:08):
Absolutely to your point, you know, women owned businesses are
about thirty nine percent of all businesses in the economy, right,
so that's a big deal. They're also concentrated in things
like consumer goods, you know, apparel, food and so forth,
so you know, it's a large impact on themes. And
you know, the reality is these smaller businesses just don't
(01:29):
have either the negotiating power, the access to capital and
finance to be able to really negotiate and weather through
you know, teriffs or uncertainty and tariffs in the way
that sort of the larger you know, luxury brands and
kind of global businesses have. So this is a really
difficult time but for a significant portion of our economic
activity and people that provide you know, anything from food
(01:51):
to good to services to clothing to toys.
Speaker 1 (01:54):
So, Gwen, what can small businesses do to try to
help mitigate the impact of these terror us?
Speaker 3 (02:02):
You know, I think at this point a fair amount
of them are you advocating, asking for exemptions, right and
trying to really see what they can do. Some of them,
I think are looking for you know, the larger businesses
or if they're part of supply chain. How do they
get support from different businesses within the sector. How do
they collaborate with one another in order to be able
to either produce their goods or weather through the storm,
(02:25):
because not all of them, as I said, can pass
it along to consumers, and many of them are waiting
to see whether, you know, government or the private sector
can help support them through this time. Because even if
we were to shift to produce something like packaging, which
is not produced in the United States, that takes time
and cost, and many businesses you know, don't have that time.
(02:45):
But that's still going to require capital and partnerships in
order to be able to build new new types of
industries to keep small businesses a lot.
Speaker 2 (02:52):
I want to go there because that was one of
the intents of the tariffs. One of the many that
we here tossed about all the time is REA shoring
things to be made here. But from your perspective with
some of these small businesses, when even if they're not
necessarily creating on their own, the manufacturing piece, the encouragement
to buy things here locally, how realistic is it for
some of your small business for some of that collaborative
to be able to buy domestically because some things probably
(03:13):
aren't to your point, available here to do so.
Speaker 3 (03:17):
Absolutely, I think it depends on the business here in obviously, right,
But there are certain things, Like I said, packaging, that's
one of those things that's just you know, not produced
or manufactured here. So if you need packaging, where are
you going to go? Clothing? You know, we're the world's
largest importer of clothing, so we're going to have to
look at where do you find out who's going to
start producing clothing again, So it really depends on you know,
(03:39):
the types of businesses that you're in, and that's where
businesses are looking around and figuring this out. And don't
forget we took a shock during COVID to small businesses
and rising prices in other areas like food and you know,
basic necessities you know, make up, clothing, tupas and underwear
makes it really difficult for these small businesses. It's not
like you can turn around and say, you know, I'm
(04:00):
to buy from this person producing this good important right,
because it's simply not there.
Speaker 4 (04:05):
Networking is so important for any small business or any
business really large or small, but the smaller women owned
businesses do they face unique challenges to access professional networks.
Speaker 3 (04:17):
They do face unique challenges, and we sort of laugh
and say, you know, we talk about the old boy network, right,
but women owned businesses don't have that same robust network.
And what that network gives you is partnerships. It gives
you access to capital and finance. It gives you ability
to advocate for or build a supply chain. So you
(04:37):
really don't have that same negotiating power if you don't
have that network that you can shift your business, whether
through something like the terraces right or or keep your
products moving as quickly as the other large companies or
the male owned businesses that have access to larger networks.
Speaker 2 (04:55):
Gwen and wrapping up with you, I realized many of
these small businesses have been bootstrapped by the owners of
tea point they they're not flush necessarily with the funds
that big corporations have. So to the point of that,
how many of these businesses may be on the fringe
of going away because the uncertainty with tarots and con
tariffs and conversely, how long do these businesses hold out
before they or can they before they pass along these
(05:18):
costs to consumers so they can survive.
Speaker 3 (05:21):
It's interesting you mentioned bootstrap because women owned businesses, no
matter what size, still have access to less than two
percent of all capital, So that's a big deal. And
just have the finance that they have access to. So
what that means right now is either you pass along
the price to the consumer and the consumer will about
that price, or you may have to shutter. So this
and we're talking about, you know, a thirty sixty day window, right.
(05:41):
This is not an iPhone, this is not a large car.
This is you know, every day items that people are using,
are in everyday service in your neighborhood. So I think
we really have to have some immediate evaluation. We have
to look at immediate support for those businesses from state, local,
and federal government, and we have to be able to
talk about the impact of small businesses as we're doing today.
Speaker 1 (06:02):
Gwen Young is the chief executive officer of the Women's
of the Women's Business Collaborative. Thank you so much for
your time and your expertise this morning.
Speaker 3 (06:11):
Thank you have a great day.
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