Learn what helps you keep your business open after a natural disaster.
Running a business takes vision. You look ahead, plan for growth and see possibilities where others see challenges. But the truth is that storms, floods, fires and earthquakes can disrupt even the strongest business.
In recent years, the United States experienced a 200% increase in disasters since 1980 according to NOAA. Climate Central estimates that the average annual cost of disasters rose to nearly $100 billion, compared to $22 billion in that same time span. What’s more, natural disasters are happening more often. The gap between major disasters has shrunk from 82 days to just 12. That means your business may have less time to recover before the next crisis hits.
Given the frequency and intensity of natural disasters, the question is no longer “if” but “when” you’ll need to respond to one. When it happens, will your business be ready? FEMA estimates that 40% of small businesses do not reopen, and those who do, close within one year.