When heavy rains were forecasted for several counties in South Carolina in early October 2015, Michael Marsha, a business owner, tried to protect his fabric store by placing sandbags around it and hoping for the best.
In just 24 hours, Columbia, where Forest Lake Fabrics is located, experienced a massive storm that unleashed over eight inches of rain. Forest Lake Fabrics, a 55-year-old family business specializing in drapery, upholstery, artwork, and lighting, was hit hard. The floodwaters tore a 20-foot hole in the store’s back wall, washing away bolts of expensive fabric as more than six feet of water rushed through the building. The storm nearly destroyed the building and ruined the entire inventory, valued at $1 million.
Michael received a disaster loan from the U.S. Small Business Administration (SBA), which he used to replace the inventory and enhance the store’s resistance to future storms. During the recovery, he decided to strengthen the store against future flooding. He hired builders who waterproofed the walls with a heavy-duty paint to prevent water intrusion, elevated the building by six feet, and installed impact-resistant windows and doors.
“We rebuilt to ensure we’re prepared for future flooding,” Michael said.
The SBA is dedicated to supporting America’s 30 million small businesses by providing the necessary resources for recovery after any disaster. Following a disaster declaration, the SBA offers low-interest recovery loans to individuals, nonprofits, and businesses of all sizes.
Instead of worrying whether your business can survive the next flood, wildfire, earthquake, or hurricane, consider implementing structural upgrades where possible. It’s also wise to have a disaster preparation plan that is tested and updated regularly.
September is National Preparedness Month. Led by the Federal Emergency Management Agency and supported by Ready.gov, this year’s theme is “Prepared, Not Scared.” The SBA has partnered with the Insurance Institute for Business & Home Safety (IBHS) to help businesses understand their disaster risks and develop continuity plans to lessen the impact of future disasters.
On Wednesday, Sept. 18 at 3 p.m. EDT, the SBA and IBHS will co-host a Twitter chat on business continuity and structural improvements to reduce the risk of property losses. You can join the chat at #SBAchat. On Tuesday, Sept. 24 at 2 p.m. EDT, they will co-host a webinar sharing tips on how to fortify your property against natural hazards. Sign up for the webinar on the SBA website.
Here are a few preparedness tips:
– Assess your building’s vulnerabilities both inside and out.
– Make structural upgrades such as adding a retaining wall, installing a sump pump, using noncombustible materials for decks, sealing cracks, installing permanent hurricane shutters, and using impact-rated windows.
– Calculate the cost of having to shut down operations for varying lengths of time and explore insurance options like business interruption insurance, or build a cash reserve to keep your business open during the recovery.
Visit www.sba.gov/disaster for more information on preparing for disasters.
Having a well-thought-out plan in place can significantly improve your odds of keeping your business running after a disaster, thereby protecting lives and aiding in the community’s economic recovery.
