Business Leaders Focus on Governors

From Politico: Forget Washington — corporate America is focused on governors right now.  An excerpt:

With the Trump administration taking a backseat to state leaders on coronavirus mitigation, companies and trade associations that traditionally rely on relationships with Washington power brokers are instead being forced to reckon with newly emboldened statehouse executives to deal with a fast-evolving commercial crisis.

Resilience for Small Business

New Report: Building Resilience for Coastal Small Busineses. This 60-page report was produced by the Lowlander Center in LA.

Thanks to Alessandra Jerolleman for the citation. As one of the authors, she noted that it was the culmination of a two-year long project focusing on the resilience of small businesses along the Louisiana coast.  The project was funded through a grant from Entergy​ to the Lowlander Center, with Water Works as as sub-consultant,​

GAO Testifies SBA Still Unprepared to Handle Disaster Assistance

The Diva gets discouraged reading all of these article about what disaster preparedness measure are still not in place.

See this article from the Wash Post: Report: SBA still unprepared to handle natural disasters.  Apparently, the GAO issued a report of recent testimony, but I missed it.

Here is the direct link to the GAO Testimony: SBA: Additional Steps Needed to Help Ensure More Timely Disaster Assistance

Effects of Disasters on Corporations

From Fortune magazine:  How much do natural disasters really cost corporate America?  Sales growth of supplier firms directly hit by a natural disaster drops by around five percentage points, according to a study. Some details:

So the key question is: When a shock — like a natural disaster or financial crisis — hits a supplier, what really happens to the firms in that network? Is there a spillover effects? To address this issues, we studied the transmission of shock caused by natural disasters in the past 30 years in the U.S. within the supply chain of publicly traded firms. We analyzed a sample of 2000 large corporations and 4000 of their suppliers.

Some Articles on Business Recovery and Resilience

I happened to be going through some older papers in my save file, and then found free copies to download from the Create Homeland Security Center. Two recent papers are worth reading, in my opinion. See:

Infographic: Top Natural Disasters that Threaten Businesses

I know that readers like infographics – the Diva does too when they edify and do not oversimplify the subject matter.  See this new one: Top Natural Disasters That Threaten Businesses, which was done by Eastern KY University.

Thanks to Austin Anderson for bringing it to my attention. He notes that “The linked graphic displays the top natural disasters affecting businesses while providing valuable solutions on how to prepare for such a devastating event.”

Slow Going for Small Business Recovery in Staten Island

From the Staten Island newspaper, this article about the slow progress in helping small businesses post H. Sandy.See: Few small businesses helped with federal Hurricane Sandy relief funds, administration tells City Council.

It’s not just homeowners hit by Sandy who are waiting for help: Relief has also been slow to trickle to small businesses, city officials and business owners testified to City Council members Wednesday.

Just 10 businesses citywide have received only $2.76 million as part of the Hurricane Sandy Business Loan and Grant program, out of some $42 million available for the program in U.S. Department of Housing and Urban Development block grants, Small Business Services Commissioner Maria Torres-Springer said.

“In looking at the program, there are process improvements we can make so that number — which was seven a couple of weeks ago and is now 10 — is dramatically higher, as quickly as possible,” Ms. Torres-Springer told members of the Small Business and Resilience and Recovery Committees.

The dismal statistics echoed testimony at previous hearings on housing recovery — when officials admitted that the number of homes under construction or with checks in the mail was also in the single digits. Ms. Torres-Springer blamed strict rules around the HUD funding, designed to be a last resort for business owners, for the slow disbursement, and pointed out the city had much more quickly handed out grants and loans funded by other sources.