American Bar Association
When a disaster hits, it affects the entire community. A small business is especially vulnerable because it does not necessarily have the resources to respond to a disaster or to catastrophic damage. In fact, it is reported that approximately 25 percent of small businesses that close due to a disaster never reopen, and 40 percent of small businesses hit directly by a serious natural disaster do not recover. This is true regardless of what kind of disaster is involved, from a hurricane, a tornado, an earthquake, flooding, winter storms, or even civil unrest or terrorism.
Peggy Maisel & Natalie Roman,
Small Business Disaster Assistance,
Building Community Resilience Post-Disaster: A Guide for Affordable Housing and Community Economic Development Practitioners
Available at: https://scholarship.law.bu.edu/faculty_scholarship/121