Abstract
Flooding can have a devastating impact on businesses, especially on small- and medium-sized enterprises (SMEs) who may be unprepared and vulnerable to the range of both direct and indirect impacts. SMEs may tend to focus on the direct tangible impacts of flooding, limiting their ability to realise the true costs of flooding. Greater understanding of the impacts of flooding is likely to contribute towards increased uptake of flood protection measures by SMEs, particularly during post-flood property reinstatement. This study sought to investigate the full range of impacts experienced by SMEs located in Cockermouth following the floods of 2009. The findings of a questionnaire survey of SMEs revealed that businesses not directly affected by the flooding experienced a range of impacts and that short-term impacts were given a higher significance. A strong correlation was observed between direct, physical flood impacts and post-flood costs of insurance. Significant increases in the costs of property insurance and excesses were noted, meaning that SMEs will be exposed to increased losses in the event of a future flood event. The findings from the research will enable policy makers and professional bodies to make informed decisions to improve the status of advice given to SMEs. The study also adds weight to the case for SMEs to consider investing in property-level flood risk adaptation measures, especially during the post flood reinstatement process.
| Language | English |
|---|---|
| Pages | 42-53 |
| Number of pages | 12 |
| Journal | Journal of Flood Risk Management |
| Volume | 7 |
| Issue number | 1 |
| Early online date | 22 Jan 2013 |
| DOIs | |
| Publication status | Published - Mar 2014 |
| Externally published | Yes |
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Small businesses and flood impacts : The case of the 2009 flood event in Cockermouth. / Wedawatta, Gayan; Ingirige, B.; Proverbs, D.
In: Journal of Flood Risk Management, Vol. 7, No. 1, 03.2014, p. 42-53.Research output: Contribution to journal › Article
TY - JOUR
T1 - Small businesses and flood impacts
T2 - Journal of Flood Risk Management
AU - Wedawatta, Gayan
AU - Ingirige, B.
AU - Proverbs, D.
PY - 2014/3
Y1 - 2014/3
N2 - Flooding can have a devastating impact on businesses, especially on small- and medium-sized enterprises (SMEs) who may be unprepared and vulnerable to the range of both direct and indirect impacts. SMEs may tend to focus on the direct tangible impacts of flooding, limiting their ability to realise the true costs of flooding. Greater understanding of the impacts of flooding is likely to contribute towards increased uptake of flood protection measures by SMEs, particularly during post-flood property reinstatement. This study sought to investigate the full range of impacts experienced by SMEs located in Cockermouth following the floods of 2009. The findings of a questionnaire survey of SMEs revealed that businesses not directly affected by the flooding experienced a range of impacts and that short-term impacts were given a higher significance. A strong correlation was observed between direct, physical flood impacts and post-flood costs of insurance. Significant increases in the costs of property insurance and excesses were noted, meaning that SMEs will be exposed to increased losses in the event of a future flood event. The findings from the research will enable policy makers and professional bodies to make informed decisions to improve the status of advice given to SMEs. The study also adds weight to the case for SMEs to consider investing in property-level flood risk adaptation measures, especially during the post flood reinstatement process.
AB - Flooding can have a devastating impact on businesses, especially on small- and medium-sized enterprises (SMEs) who may be unprepared and vulnerable to the range of both direct and indirect impacts. SMEs may tend to focus on the direct tangible impacts of flooding, limiting their ability to realise the true costs of flooding. Greater understanding of the impacts of flooding is likely to contribute towards increased uptake of flood protection measures by SMEs, particularly during post-flood property reinstatement. This study sought to investigate the full range of impacts experienced by SMEs located in Cockermouth following the floods of 2009. The findings of a questionnaire survey of SMEs revealed that businesses not directly affected by the flooding experienced a range of impacts and that short-term impacts were given a higher significance. A strong correlation was observed between direct, physical flood impacts and post-flood costs of insurance. Significant increases in the costs of property insurance and excesses were noted, meaning that SMEs will be exposed to increased losses in the event of a future flood event. The findings from the research will enable policy makers and professional bodies to make informed decisions to improve the status of advice given to SMEs. The study also adds weight to the case for SMEs to consider investing in property-level flood risk adaptation measures, especially during the post flood reinstatement process.
KW - Adaptation
KW - Business continuity
KW - Flooding
KW - Resilience
KW - SMEs
KW - Vulnerability
UR - http://www.scopus.com/inward/record.url?scp=84894346049&partnerID=8YFLogxK
U2 - 10.1111/jfr3.12031
DO - 10.1111/jfr3.12031
M3 - Article
VL - 7
SP - 42
EP - 53
JO - Journal of Flood Risk Management
JF - Journal of Flood Risk Management
SN - 1753-318X
IS - 1
ER -