What's happening at Hampton Industries, a Kinston apparel maker, is typical of the plight of many Eastern North Carolina businesses. Although storm damage was minimal to company facilities, flooding in the area has kept employees from work, and truckers aren't able to get finished goods to the company's distribution centers. On Thursday, Hampton Industries announced that third-quarter revenues are expected to be less than last year, and the shortfall will likely mean a loss for the quarter. One thing business owners can do right away is keep employers, suppliers and customers in the loop, he said. Employees need to know you haven't abandoned them.
Suppliers are likely to give credit extensions if they are told of the hardship.
Although Floyd spared businesses in the Charlotte region, it's not a bad time for entrepreneurs to brush up on how to prepare for a disaster of any kind. So is reviewing insurance policies before you're knee deep in mud and realize that the coverage you have isn't enough. The Business Recovery Assistance centers are open from 8 a.m. to 7 p.m., Monday through Friday. To participate, businesses need to be approved for SBA loans.