Small Business Owners Highlight Their Local Economy as Bright Spot
Disaster Preparedness and Business Disruptions
Despite the ever-present threat to business growth and continuity from potential natural, technological, and other man-made calamities, the majority of small businesses do not have official plans to deal with the disruptions. According to the
In telephone interviews with 1,000 small business owners and operators, a majority (65 percent) of small business owners said they do not have any plans in place to cope with a natural disaster or inclement weather and approximately seven out of 10 businesses are not prepared to deal with a prolonged shortage of workers. Half (50 percent) have plans to prevent theft and deter intruders and 47 percent have a plan to combat cybercrime. However, nearly one-quarter (23 percent) have no plan in place to deal with any of these events.
"Our goal in creating the quarterly Small Business Index was to elevate the voice of small businesses, especially as it relates to the challenges they are facing," said
The dozens of storms and natural disasters throughout 2017 alone have caused billions of dollars in damage, and the impacts can be devastating to small businesses and their local economies. According to the
"Natural disasters can have a ripple effect across a community and local economy," said
The Voice of the Small Business Owner – Catastrophic Events
This research effort includes gathering personal stories that illuminate the unique challenges facing today's small businesses. In Q4, small business owners shared important insights into the business disruptions they have faced and the importance of disaster preparedness.
In
A small business owner in
"You can never be too prepared...Even if you are okay, your customers might not be. And the longer it takes the community to get back on their feet the more the aftermath can wreak financial havoc on your business."
Small business owners in
"Three hours. That's all it took for the worst of the hurricane to change our world…I was one of the lucky ones. Fortunately I was insured. Many businesses were battered much harder than ours, and were not. In three hours those business owners saw their livelihoods disappear. Many of them aren't coming back. They can't."
"We're in the process of rebuilding one of our locations that flooded after the storm, and we've learned a lot...You can never be too prepared for a disaster and its aftermath. If you aren't it can really take a toll on you financially."
Resources for Business Owners
202-463-3133 and [email protected]
Disaster response resources can be found online here.
The Q4 Small Business Index also looked at small business owners' digital usage and found that a quarter of small businesses are not active on the internet, with one-fifth (19 percent) reporting they do not have an online presence of any kind.
About the Small Business Index
The Index is part of a multiyear collaboration by
Please visit www.SBIndex.us for the full results and methodology.
About the
The
About
Contact:
David Hammarström
(212) 578-2736
www.uschamber.com
@USChamber
www.freeenterprise.com
www.metlife.com/mysmallbusiness
@metlife
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