The U.S. Small Business Administration’s (SBA’s) latest Small Business Profile reports 3 million small businesses in Texas, making up 99.8% of Texas businesses. (These figures do not consider the effects of the Covid-19 pandemic).
The impact of disasters on small businesses has been massive. The Small Business Credit Survey (SBCS) found that 65% of affected businesses in FEMA-designated disaster areas in the United States lost power in late 2016 and 2017. However, only 17% of affected businesses had business disruption insurance at the time of the disaster, and only 16% had flood insurance.
According to FEMA, just 1 inch of floodwater can cost up to $25,000 in damage.
Flood Resiliency Guide
To learn more about how small business owners can plan and protect against floods, prepare for floods, respond to floods, or recover after floods, click on any of the bubbles below: