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In the 50-plus days since President Donald Trump returned to the White House, his administration has announced wide-ranging policy changesfrom tariffs to immigration and beyond. The chaos of the early months of the Trump administration is creating uncertainty for the 1.5 million small business owners that Hello Alice serves with its free digital platform, according to Carolyn Rodz, co-founder and CEO. Even though theres a lot of confusion about how these policies will impact small businesses, Rodz advises against a wait-and-see approach. Thats probably the most dangerous approach an entrepreneur can take, Rodz said Sunday during discussion at the Fast Company Grill at SXSW. Instead, she encouraged entrepreneurs to be proactive. A lot of the guidance that we’re providing is: Prepare for today, but have a plan B and have a plan C, and I think it’s smart in any environment, but more so today. UNDERSTAND UNIT ECONOMICS In light of the tariffs President Trump has already imposed on some trade partnersand more that hes threatenedRodz said entrepreneurs should seek out alternative sources for sourcing products if theyre importing from countries on the hot seat. And its important that small business owners understand their unit economics, she said, because that will inform how they prioritize their business needs. Does a shift in tariffs tomorrow all of a sudden shatter your unit economics? If it shatters your unit economics, you better start thinking about that today. Even if higher costs ultimately must be passed along to consumers, Rodz said its very important to communicate to customers why prices are going up. Be really transparent with your customer base, Rodz advised small business owners in the audience. If people understand the why, they’re going to be much more likely to stick with your company and see you through the change. A LOT OF UNKNOWNS But the administrations stance on immigration, for example, is creating a lot of unknowns thats causing small business owners to freeze up rather than take action, Rodz said. Once again, she advised getting a headstart on establishing a stable workforce and building programs for employee loyalty and talent acquisition. Really think through what those processes look like for your specific industry and business so that you’re prepared to find the best talent that you can find independent of what the political situation looks like, Rodz advised small business owners. Another area where Rodz has seen businessesespecially corporationsbecome afraid is with respect to diversity, equity and inclusion (DEI) efforts. Theyre afraid to move, she said. There is a great fear of the public backlash on either side of their move. Hello Alice has firsthand experience with the backlash to DEI. In 2023, it was sued over a program that offered $25,000 grants to Black-owned businesses by American First Legal, which is backed by former Trump adviser Stephen Miller, on the grounds of racial discrimination. Even though a judge ruled against Miller in favor of Hello Alice in May 2024, the companys million-dollar legal battles continue. We’re a small company and we’re a very nimble company, and so we’ve been able to actually fight this fight longer than many of the large corporations with massive pocketbooks around us have, Rodz said. While other companies have settled similar lawsuits, Rodz said Hello Alice will continue to push as far as it can because it remains important to find ways to ensure everyone feels theyre getting a fair shot. At the end of the day, it’s figuring out how do we operate in the environment that we’re in today and still offer the resources and needs and fulfill the needs of what is clearly an economic gap that the status quo won’t solve. OPTIMISM AND SILVER LININGS Despite all of the uncertainty of recent months, small business owners remain largely optimistic, Rodz said, adding that surveys show that more than 60% of Hello Alices users are confident or highly confident that the future will be better than todaya share that doesnt waver, regardless of politics or the administration in charge. Small businesses are a really optimistic group. And there are some silver linings, like taxes, that could benefit entrepreneurs if President Trump follows through on campaign promises to reduce tax rates and build a simpler tax structure, Rodz says. Small businesses will stand to benefit if a lot of this policy goes through. Staying abreast of the latest news out of Washington, D.C. is difficult for anyone, let alone someone trying to run a business. Hello Alice has always focused on education, and now some of that has shifted to policy changes. Likewise, Rodz said artificial intelligence could be another valuable resource for trusted informationand, more broadly, will give entrepreneurs an advantage in growing their business, which should remain their focus. To the degree you can, cut out the noise and focus on the one, two, or three things that you can do today to push your company forward, Rodz said.
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