Economic Sustainability: An Essential Component of Successful Recovery
Update: 2010-12-06
Description
The Great Midwest Flood of 1993 affected more than 250 businesses - about 76 percent of the local businesses - in Chesterfield, Missouri. Only 65 existing businesses were able to re-open after the disaster. While not every community will suffer such extreme business losses following a disaster, many small to mid-sized businesses will not have the financial reserves to survive an extended disaster. recovery process. Businesses, particularly those that rather lease than own their facilities, generally do not have adequate insurance to cover the repair cost or coverage for equipment, inventory, and revenue disruptions.
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