<br />
<br />. While most larger businesses carried insurance, one of every six small businesses
<br />reported having no business insurance, Furthennore, while most businesses reported
<br />having hability, property and casualty and fire insurance, a significant number were not
<br />insured for loss of revenue or floods.'
<br />
<br />In summary, small business shouldered a disproportionately high level of losses from this disaster, Small
<br />business owners have fewer resources and nverall "coping capabilities" in the aftermath of a major disaster,
<br />Yet, the pace of community recovery is typically a partial function of the pace of small business recovery, The
<br />reason is straightforward. Small businesses are the job creators in the state and national economy, In North
<br />Carohna, for example, three of every five businesses (62 percent) are operated by full-time sole proprietors
<br />without paid employees, I
<br />
<br /> - --- " Table 3.1
<br /> Industry 1-4 Employees 5-19 20-99 100-499 500+
<br /> All industries 131,080 74,832 51,928 41,027 -74,481
<br /> Manufacturing 3,279 5,583 5,717 -92 -64,210
<br /> Retail trade 25,01' 10,012 13,609 2,097 -9,105
<br />@ Services 68,957 4 1,466 27,409 34,593 -9,862
<br /> "'"
<br /> a""
<br /> Other 33,832 '7,772 5,193 4,458 8,696
<br />
<br />North Carolina Wage and Salary Employment Growth
<br />Number of jobs created by major industry and employment size of firm (1992-1996)
<br />
<br />Impact of Hurricane Floyd on the Agriculture Business Sector
<br />
<br />Wbile declining in relation to other economic sectors, agriculture still plays an importanl role in community
<br />hfe in North Carolina, The term "agri-business" includes the follmving categories: crop production, livestock
<br />production, fisheries (freshwater and saltwater), nurseries, and forest1j: Overall, there are approximately
<br />49,000 farms in the stale that employ an estimated 130,000 short- and long-term workers:'
<br />
<br />Hurricane Floyd had a major impact on individual farmers in the 6i county region that sustained the most
<br />damage. Stale estimates indicate that 30,000 fanns and 90,000 agricultural workers were affected by
<br />Hurricane Floyd stateIVide, When damages for all agricultnral categories are tabulated, it is estimated that
<br />Hurricane Floyd caused $9i3 milhon in agricultural losses, led by crop damage (55 percent of total losses)
<br />and damage to farm facilities (33 percent of total losses) ."
<br />
<br />In many respects, Hurricane Floyd was only the latest in a series of events that have weakened the ability of
<br />farmers to maintain their livelihood: the drought of 1998-99, the declining market prices for key commodi.
<br />ties, on-going problems of re-structuring debt, and the continued decline of hog farming, tobacco farming
<br />and other lraditional small business farming practices, Finally, to be stlstainable, agricultul"a! husinesses
<br />must adapt to the requirements that are set forth in a variety of state and fedel"a! emironmental and land use
<br />regulations that are designed to minimize pollution, maintain water quality standards, and protect the
<br />emironment. Compliance can be costly. Yet, as reflected in the case study of a dairy operation near
<br />Louisburg, techniques that are designed to minimize emironmental impacts can also minimize flood hazard
<br />impacts,
<br />
<br />39
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