• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube
Big Ideas for Small Business logo

Barbara Weltman

Big Ideas for Small Business, Inc.

Whitepaper download

Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."

This field is hidden when viewing the form
Get the:

  • Home
  • About Us
  • Big Ideas For Your Business
    • Idea Of The Day ®
    • SMB Legal
    • SMB Taxes
    • SMB Financial
    • Small Business
    • Newsletter Archive
  • Services
  • Books
  • Blog
  • Multimedia
    • Videos
    • Radio Shows/Podcasts
  • Be a Guest Blogger

Disaster Brings Loss — Rebuilding Brings Benefits

September 5, 2017 / By Barbara Weltman

September is National Preparedness Month

September is National Preparedness Month, so on the heels of Hurricanes Harvey, Irma and Maria it seems appropriate to review what disasters mean to small businesses.

Overview

Any time there is a major weather event, such as the hurricanes in August and September 2017, the personal tragedies—loss of life and property—are dramatic and can’t be ignored. Rebuilding lives and homes takes courage, money, and the support of government and neighbors. For small business owners, there are those who lose a great deal and there are those who can benefit.

Affected by loss

When electricity goes down for extended periods, many small businesses find it difficult if not impossible to survive. According to FEMA, 40% of small businesses go out of business following a disaster. I recall being in the aftermath of Hurricane Sandy without electricity for nearly two weeks, which made it impossible to operate my business.

As a group, small business owners typically suffer greatly in disasters. Most do not carry business continuation coverage to pay their overhead while they aren’t functional. And their insurance for property losses may be inadequate. The Wall Street Journal reported that “the National Flood Insurance Program, the only option for most [businesses] since private insurers got out of the flood insurance business nearly a century ago, is sorely out of step with their needs.”

Can anyone benefit?

While disasters mean tragedy for many small businesses, some can benefit immensely. These include:

  • Disaster recovery businesses. For example, ServPro teams (ServPro is franchised) began to head for the Houston area even before the rain stopped.
  • Construction industry. Companies that help communities rebuild have years of work ahead of them following Hurricane Harvey.

Conclusion

What are the lessons of Hurricanes Harvey, Irma, and Maria, and other disasters for small business owners? Take the time now to review your emergency preparedness plan, including your insurance coverage. Also collect information you would need following a disaster, including contact information with your insurer and access to financial and customer accounts and data backup. Find more information about preparedness for your business from Ready.gov.

And watch for federal legislation to provide tax breaks for those impacted by the recent hurricanes.

Tags disaster preparedness disaster recovery Hurricane Harvey National Preparedness Month small business owners

Primary Sidebar

Categories

  • General Business (501)
  • Guest Blog (111)
  • Homepage (16)
  • Small Business (996)
  • SMB Financial (326)
  • SMB Legal (66)
  • SMB Taxes (325)

Barbara’s Recent Posts

  • Business Advice from Famous Dads June 12, 2025
  • How Important Is Higher Education for Small Business Owners June 11, 2025
  • Business Planning in a Period of Uncertainty June 10, 2025
  • 9 Smart Financial Decisions for Business Owners in Retirement June 6, 2025
  • Preview of Tax Changes this Year: Actions to Take Now June 5, 2025
  • Becoming Penniless: What Does this Mean for Your Business? June 3, 2025
  • Scale Your Business by Stepping Up IP Protection May 29, 2025
  • Disasters Happen: It’s Important to Be Prepared Now May 27, 2025
  • How Work Order Software Transforms Small Business Operations May 26, 2025
  • The Numbers Are Up for Sole Proprietorships May 22, 2025
  • New Business or Project Crowdfunding: What To Know May 20, 2025
  • Old-School Estimating vs. Smart Solutions: What’s Really Holding You Back? May 19, 2025
Awarded Top 100 Small Business Blog medal (link will open in a new window or tab)
Marquis Who's Who 2023 Badge
Top Small Business Blogs (Link will open in a new window or tab.)
8 Financial blogs small business Owners Need to Read. Invoice home.  (link will open in a new window or tab)
Best Small Business Blog, Expertido.org
Top 50 Small Business Blogs 2018
Best Small Business Blogs
BizHumm Top 100 Business Blog Award to Barbara Weltman
FitsSmallBusiness.com: Award for Best Small Business Blog 2017 (link will open in a new window or tab)
FitsSmallBusiness.com: Award for Best Small Business Blog 2016 (link will open in a new window or tab)

Footer

Big Ideas for Small Business logo

Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

Contact Us

[email protected]

(772) 492-9593

gacor maxwin situs slot thailand terpercaya situs slot gacor situs gacor akun pro thailand slot bandar togel terpercaya

Latest Tweets

bigideas4sb Big Ideas for Small Business® @bigideas4sb ·
June 13

Building Capacity For Breakthrough Innovation - Branding Strategy Insider https://bit.ly/4dLAYz4 #branding #smallbusiness #innovation

Reply on Twitter 1933653217478427002 Retweet on Twitter 1933653217478427002 Like on Twitter 1933653217478427002 1 Twitter 1933653217478427002
bigideas4sb Big Ideas for Small Business® @bigideas4sb ·
June 13

Mobile App Development Services by freelance developers | Fiverr https://bit.ly/43xY7Sl

Reply on Twitter 1933617201652609203 Retweet on Twitter 1933617201652609203 Like on Twitter 1933617201652609203 Twitter 1933617201652609203
bigideas4sb Big Ideas for Small Business® @bigideas4sb ·
June 13

Join my session on June 17 - register here https://bit.ly/4jQqFv9 #retirement #summit
https://bit.ly/44nljC3

Reply on Twitter 1933589727816372502 Retweet on Twitter 1933589727816372502 Like on Twitter 1933589727816372502 Twitter 1933589727816372502
Load More

Copyright © 2008–2025 Big Ideas for Small Business, Inc  |  Designed by Hudson Fusion

  • Privacy Policy
  • Sitemap