OPEN finance expert Mike Periu on successfully rebuilding your small business and the hidden costs of hurricane sandy.
The Hidden Costs of Hurricane Sandy Far Exceed Insured Losses
Costs of hurricane Sandy are expected to cause between $10 and $20 billion in damages. This only addresses the explicit damage, such as broken windows, flooded houses and cars crushed by trees; it doesn’t take into account the far larger opportunity costs borne by consumers, businesses and government agencies that must divert time, energy and resources to preparing, surviving and rebuilding. Making matters worse, many small businesses lack insurance coverage for lost sales, doubling the financial impact of the hurricane.
Despite the human and economic tragedy of hurricane Sandy, many small businesses can successfully position themselves to rebuild. After hurricane Irene caused $14 billion in damages, retail sales jumped by as much as 35 percent in the years that followed.
About Mike Periu
Mike is a seasoned executive with experience in small business finance and management. He is the founder of Proximo, LLC a leading provider of corporate, consumer and small business education and training services with an emphasis on finance and technology.
Mike Periu is also a leading national voice for individual empowerment through financial education and entrepreneurship. He has been interviewed over 500 times in national and international media, including NBC, Univision, CNN en español, Telemundo, HITN, TVE, RTE, SBS, MegaTV and others.
Mike writes regularly for American Express OpenForum, Yahoo! Finanzas and is a Huffington Post contributor.
Mike has degrees in Finance and International Business from Georgetown University. He is on the Board of Directors of the Council for Economic Education and was a Fellow at the Kauffman Foundation’s Labs for Enterprise Creation.
