Helping Small Business Prepare for and Recover From Disasters

Posted under: SMB
Date: 2024-02-21
Helping Small Business Prepare for and Recover From Disasters

Small businesses serve as the economic engine of the U.S. 33.2 million small businesses, comprising 99.9% of all businesses, frequently face challenges in disaster recovery and preparation for future events. The Readiness for Resiliency Program (R4R), a collaboration with FedEx, is a multi-year initiative designed to aid small businesses affected by disasters. It provides guidance on disaster preparation and offers $5,000 quick-turn relief funding after a federal disaster declaration is made in their region. To date, the R4R program-with additional support from Allstate-has helped prepare nearly 3,000 businesses for the next disaster and distributed $5,000 grants to 51 businesses across the country. Grantees report using the funds on crucial expenses such as building their customer base, paying employee salaries, and repairing damaged or lost inventory.

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