Houston’s Small Businesses Rebounded Quickly After Harvey – But Those Hardest-Hit Are Still Rebuilding
Style Magazine Newswire | 9/29/2017, 8:13 a.m.
Source: HoustonPublicMedia.org
Harvey’s impact can be felt across Greater Houston – it flooded thousands of homes. But it also damaged and destroyed businesses, and among the hardest hit were small businesses, which make up the vast majority of Houston companies. Small business software company Womply looked at the average revenue of 5,800 Houston businesses before the storm and how it was affected during Harvey and in the 10 days after. Womply told Houston Public Media they saw a dramatic initial decrease in average revenue and rebounded fairly quickly. Revenue plummeted across industries but most returned to 80 to 100 percent of typical daily revenue within a week. The impact and recovery has been very different depending on location. So far, the Small Business Administration has approved nearly $20 million in low-interest loans to businesses in Harris County.


