What happens to a business when the power goes out?
(BPT) - Losing power leads to instant anxiety: when will it return? Aside from the absence of everyday luxuries like turning on the TV or connecting to the Internet, you may worry about the food in the fridge spoiling, and wonder when you’ll be able to take a hot shower. While these types of events present real problems for the average homeowner, business owners worry about when the cash register will start ringing again.
Storm Sandy devastated the east coast with heavy winds and storm surges that flooded major cities and shorelines while dumping record snow in West Virginia and knocking out power as far away as Ohio in October 2012. Among small businesses impacted by the storm, 71 percent lost power and with it, the ability to continue operating, according to The Hartford Small Business Pulse Survey: Storm Sandy.
Approximately three-fourths of impacted owners had to close their doors for a period of time, and it took them an average of seven days to reopen. While only 11 percent experienced structural property damage, 52 percent experienced loss of sales or revenue as a result of Storm Sandy.
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