Hurricane Idalia – How Can Businesses Recover?

Hurricane Idalia is expected to make landfall on Wednesday, August 30, 2023. The storm, characterized by increasingly powerful winds and an alarmingly severe storm surge, currently sits as a Category 3 Florida hurricane.

The main concern for health and safety is rising water from storm surges, which is expected to reach 12 feet in some coastal locations. The National Guard is standing by, and officials have ordered residents to evacuate 22 counties in preparation for the landfall.

Hurricane Idalia will undoubtedly interrupt commerce, but it won’t stay stagnant for long. Business owners will return to their local communities to repair damage and pick up the pieces, but what’s the best way for them to go about this?

Continue reading for important information about returning to normal business operations after a hurricane or other inclement weather.

How Will Hurricane Idalia Affect Business?

Inclement weather forces businesses to temporarily close their doors. People displaced by evacuation orders will need to return once the dust settles, but even then, there’s a chance that businesses and office spaces will suffer immense property damage that delay their reopening even further.

Fallen trees, broken power lines, and water damage all create an environment that isn’t safe for workers and shoppers alike. The community will need to recover from the damage before businesses can start to look and operate like their old selves.

It’s unknown how long Hurricane Idalia will affect Florida and coastal business, but it likely won’t be a one-day thing, especially in areas surrounding where the storm makes landfall.

How Can Businesses Protect Themselves From Hurricane Damage?

Protecting your business from storm damage is a matter of being proactive. If weather reports signal an impending storm, here are a few checklist items to accomplish before you and your family evacuate the area.

• Establish Clear Communication Channels – For both consumers and your workers, it’s important to develop a communication plan and set it in place before the storm hits. This can be as simple as telling your employees that you’ll send a message in your group text when it’s safe to return to work, but it can get more complicated with bigger businesses. Additionally, if you have social media, post a message advising consumers that you’ll be closed until the storm is over and that you’ll update your social media channels when you’re ready and able to get back to work.
• Seek Out Alternate Suppliers – Everyone understands how important the supply chain is after the complications of the pandemic. Still, something like a hurricane can cause disruptions that prevent you from operating at full capacity despite your repair efforts. It’s important to seek out alternate suppliers that use different methods of transportation or are in a different location to ensure you’re able to bounce back as soon as possible.
• Learn Your Emergency Response Timeline – Bigger storms require more of a recovery effort, but even minor storms can delay your reopening for longer than you’d like. If you’re unfamiliar with your jurisdiction’s emergency response process, it’s a good idea to learn about it and ask questions ahead of time. This can help you understand when electricity, internet services, and unrestricted travel will return.
• Double-Check Your Insurance Coverage – You buy insurance for a reason. Now that it’s time to use it, you’ll want to make sure you’re covered. Check into your contract and find what damages are eligible for recovery, and make sure to ask questions if you find something amiss. For example, some people believe they’re covered against flood damage until they file a claim and discover it wasn’t part of their policy.
• Have a Contractor On Speed Dial – Contractors, roofers, and other repair businesses are essential after an inclement weather event. Their service will directly contribute to affected communities’ ability to get back on their feet. As you can guess, they’ll be busy, so make sure you give your contractor a call as soon as you know you need them.
• Form a Financing Relationship – Debt isn’t a bad thing, especially when you use the money to invest in your business’s ability to turn a profit. Although taking on a loan when you’re inoperational may seem like a bad idea, it can be the difference between reopening your doors and not. explore your options beforehand to know what’s available. form a long-term relationship with a lending partner because they can help you take advantage of opportunities post-recovery.

What Should Businesses Do After Hurricane Idalia Passes?

First and foremost, ensure that it’s safe for you, your family, and your workers to return to your location. Check with your local government to determine this timeline.

Once you’re back on site, here are a few things to look out for:

• Water Damage – Was your business affected by flooding? If so, remove wet carpet, throw out damaged inventory, and check for water damage on wood/metal surfaces.
• Electrical Hazards – Do not turn the lights on as you return to your business. There may be a wiring hazard created by the storm that can cause significant bodily harm if you’re not careful. Call a professional, and let them handle the situation.
• Property Damage – Falling objects could have damaged your property and created an unsafe environment for staff and visitors. If you notice signs of structural damage, make sure to take pictures, videos, and move anyone nearby to a safe location.

All of the above can prevent you from getting back to business. Call your contractor, keep a copy of the receipt, and keep your team up to date on the latest happenings.

Which Business Financing Options Can Help After a Hurricane?

Business financing is a powerful tool for growing businesses, but it’s just as useful for businesses experiencing a challenge or slowdown. Here are a few of the most popular financing options business owners leverage after experiencing a challenge.

National Business Capital Stands as an Ally to Rebuilding Businesses

The communities affected by Hurricane Idalia will have an uphill battle to return to normalcy, but they have allies in their corner. National Business Captial’s team of expert Business Finance Advisors are standing by to help businesses get the financing they need to build back stronger – much faster than with your local bank or credit union.

Speak with our team by completing our digital application. If you have any questions throughout the process, give us a call at 631-213-6345.