4 Ways Floods Damage Impact Local Businesses

3/3/2021 (Permalink)

Floods damages repairs can be devastating to local company companies, and while insurance can cover some of the costs, there are some that are not recoverable.

Here are four ways that flood disasters can affect businesses.

1. Stock and asset losses

Floods damages may result in major losses, such as stock and other properties. Stock, equipment, appliances, and fittings, as well as important machinery, can be irreparably impaired. Businesses that can’t immediately replace these products will face significant financial losses. This means they will be unable to adequately operate and serve their customers.

2. Business Premises Closure

If companies hire unqualified restoration companies, they could close for weeks or months. This means cannot return to the premise and business owners will see a decrease in sales. Of course, since bills must always be charged, this can easily devastate funds or savings. Consider calling SERVPRO of Washington DC to help get your business back up and running.

Learn more about our Highly Trained Restoration Specialist 

3. Loss of Power and Data

Aside from the damage that flooding can do to electrical equipment, an unreliable power supply during a flood can also cause serious destruction. Since most machinery and tools cannot function without electricity, this can result in significant losses. Businesses can lose data as a result of damaged computers and servers.

4. Loss of Revenue

During the wake of a storm, the vast majority of businesses would be forced to close their doors. This will result in a loss of sales for several days or weeks before the business is able to reopen. Employees could be unable to report to work for a variety of reasons, including imminent roadblocks, flooded highways, or even relocation. When you factor in the cost of replacing missing inventory, you're looking at a financial situation that could take months or even years to recover from.