Study: One-third of business owners affected by extreme weather

It is no surprise that Southwestern areas of the United States experience different weather patterns than other sections of the nation. One thing that remains clear though, is that small- to medium-sized business owners can be severely impacted by heavy storms.

Without the right Arizona business insurance, company leaders could find themselves in a financial hole, forced to pay for repairs out of pocket. Even then, it might be difficult to reopen their stores.

For example, recent research from Small Business Majority shows that one-third of small business owners said they have been personally affected by a storm or extreme weather. Called "Climate Change Preparedness and the Small Business Sector," the report also explained that 90 percent of the companies that actually have a preparedness plan in place spend less than one day per month reviewing it and keeping it up-to-date. . 

"More and more entrepreneurs are seeing real-life impacts to their businesses and their bottom lines from climate change and the extreme weather events it creates, and they want something done to curb those effects," Rhett Buttle, the Small Business Majority's vice president of external affairs said in the report.

Evacuation plans will keep employees and customers safe, while data recovery options can help curb cyber criminals from stealing sensitive information online. But, should an emergency occur, what will the clean-up process be like?

Business owners might think that their company is successful enough to weather any situation, but no one can predict the extent of floods, wildfires or even vandalism. Furthermore, anytime that an organization is closed—even if it's to make repairs—is money that is not being earned. Working with commercial insurance specialists who understand the Arizona area can help entrepreneurs find the necessary coverages for their firms.

 

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