Friday, 31 Oct 2025
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
logo logo
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
  • đŸ”„
  • Trump
  • VIDEO
  • House
  • White
  • ScienceAlert
  • Trumps
  • Watch
  • man
  • Health
  • Season
Font ResizerAa
American FocusAmerican Focus
Search
  • World
  • Politics
  • Crime
  • Economy
  • Tech & Science
  • Sports
  • Entertainment
  • More
    • Education
    • Celebrities
    • Culture and Arts
    • Environment
    • Health and Wellness
    • Lifestyle
Follow US
© 2024 americanfocus.online – All Rights Reserved.
American Focus > Blog > Environment > Climate disasters are killing small businesses
Environment

Climate disasters are killing small businesses

Last updated: August 4, 2025 3:45 am
Share
Climate disasters are killing small businesses
SHARE

Climate-driven disasters can have a devastating impact on small businesses in the United States. These businesses, which are often the backbone of communities, face unique challenges when dealing with the aftermath of hurricanes, wildfires, heat waves, and ice storms. According to Shehryar Nabi, a senior research associate at the Aspen Institute Financial Security Program, small businesses are more vulnerable to climate shocks than larger businesses due to limited resources for preparation and post-disaster financing.

In Asheville, North Carolina, the effects of Hurricane Helene were particularly severe. The storm not only caused physical destruction but also had a long-lasting economic impact on the city’s small businesses. Kyle McCurry, the director of public relations for Explore Asheville, noted that the region’s economy suffered a 20 to 40 percent drop in annual business revenue following the storm. Many businesses, such as Vivian’s restaurant, Pleb Urban Winery, and TRVE Brewery, were forced to close their doors permanently.

One of the main challenges faced by small businesses after a disaster is obtaining financial assistance for recovery. While there are programs like FEMA’s individual and public assistance programs and the SBA’s low-interest loans, the application process can be burdensome, and the funds may take months to arrive. Only 14 percent of businesses were able to access support from the federal government, according to a report by the Federal Reserve Bank of New York.

To make matters worse, small businesses often struggle with liquidity issues after a disaster, making it difficult to cover immediate expenses. State and local governments, private lenders, and community fundraising efforts can provide additional financial support, but these sources may not fully address the liquidity needs of businesses.

See also  Climate Misinformation to Escalate on Social Media, Expert Warns : ScienceAlert

In response to the challenges faced by small businesses in Asheville, organizations like Explore Asheville have established funds to provide financial assistance to affected businesses. Through initiatives like GoFundMe campaigns and community fundraising efforts, businesses have been able to raise significant amounts of money for recovery. However, the road to recovery remains long and challenging for many small businesses in the wake of climate-driven disasters.

Despite these challenges, McCurry estimates that around 85 percent of Asheville businesses have reopened in some form, which is a positive sign of resilience in the face of adversity. With continued support from government agencies, community organizations, and private lenders, small businesses can begin to rebuild and recover from the devastating impacts of climate-driven disasters. Disrupted cash flow can have devastating effects on businesses, making pre-disaster planning crucial for protection. Experts emphasize the importance of contingency planning, which includes understanding insurance coverage and having strategies in place for potential threats. Benjamin Collier, an associate professor in the Department of Risk and Insurance at the Wisconsin School of Business, highlights the need for businesses to engage with the risks they face and be cautious by implementing buffers.

Nabi, a proponent of planning, suggests structural changes such as greater use of parametric insurance to provide quicker access to funds in the event of a disaster. He also advocates for allocating more resources to pre-disaster preparation to mitigate the impacts of potential threats. However, he notes that funding for preparation is often limited compared to post-disaster assistance.

Pat Nye, the regional director for the Los Angeles Small Business Development Network, points out a lack of incentives for small businesses to make their buildings more resilient to disasters. Unlike residential properties, insurance companies do not offer discounts for improvements made by small businesses. This oversight leaves small businesses vulnerable to the devastating effects of disasters.

See also  Trump Appointees “Reorganize” the USDA, Putting the Department’s Mission at Risk

Kristen Fanarakis, associate director of small business policy and innovation at the Milken Institute, criticizes governments for not including small businesses in their recovery plans. She emphasizes the importance of incorporating small businesses in rebuilding efforts, citing a landscaper in the Asheville area who faced financial hardships after volunteering to help clear debris post-disaster.

In a report she authored, Fanarakis calls for a cross-agency “Small Business Resilience czar” and standardized disaster assistance forms to streamline the recovery process for small businesses. She advocates for a proactive approach that considers the long-term economic impact of disasters on small businesses, rather than just focusing on immediate relief efforts.

Overall, the key takeaway is the need for businesses to prioritize pre-disaster planning and resilience measures to protect themselves from the potential financial devastation of disrupted cash flow. By implementing these strategies and advocating for structural changes, businesses can better prepare for and recover from disasters.

TAGGED:businessesClimatedisastersKillingSmall
Share This Article
Twitter Email Copy Link Print
Previous Article Hidden Greenland Lake Punches through Giant Blocks of Ice in ‘Extremely Surprising’ Event Hidden Greenland Lake Punches through Giant Blocks of Ice in ‘Extremely Surprising’ Event
Next Article US second-hand clothing exports help combat waste, boost Guatemala’s economy US second-hand clothing exports help combat waste, boost Guatemala’s economy
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

Can a team led by Division II transfers become college hoops’ most dangerous mid-major?

Drake head coach Ben McCollum was feeling the nerves before the Wildcat Classic game against…

January 3, 2025

Xzibit Files to Legally Divorce Estranged Wife, Terms Still Up in Air

Xzibit Seeks Legal Divorce Despite Ongoing Split... Files for Divorce to Establish Single Status Published…

April 26, 2025

Kamala Harris Announces A New Memoir “107 Days”

The deal had hit a snag earlier in the week as Chelsea and Ajax struggled…

August 1, 2025

Walmart stock gets pummeled — here’s what Wall Street is chatting about in the aftermath

Walmart (WMT) investors were taken by surprise as the retail giant reported a weaker 2025…

February 21, 2025

Craig’s police shootings, excessive force increasing

Tanner Sholes woke up at his friend’s house at 6 a.m. on Sept. 22, 2023,…

July 27, 2025

You Might Also Like

Good news! These ‘positive tipping points’ will help save the world
Environment

Good news! These ‘positive tipping points’ will help save the world

October 30, 2025
Earth911 Podcast: Thinking Through Post-Growth Living With Philosopher Kate Soper
Environment

Earth911 Podcast: Thinking Through Post-Growth Living With Philosopher Kate Soper

October 30, 2025
Recycling Mystery: Expanded Polystyrene – Earth911
Environment

Recycling Mystery: Expanded Polystyrene – Earth911

October 30, 2025
What if Disaster Strikes as FEMA Is Debilitated by the Trump Administration? 
Environment

What if Disaster Strikes as FEMA Is Debilitated by the Trump Administration? 

October 30, 2025
logo logo
Facebook Twitter Youtube

About US


Explore global affairs, political insights, and linguistic origins. Stay informed with our comprehensive coverage of world news, politics, and Lifestyle.

Top Categories
  • Crime
  • Environment
  • Sports
  • Tech and Science
Usefull Links
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA

© 2024 americanfocus.online –  All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?