Image Credit: Small Business Services
On April 2, 2024, the Department of Small Business Services announced a new grant program to support small businesses in dealing with natural disasters. The Business Preparedness and Resiliency Program will offer free risk assessments to identify vulnerabilities and issue grants of up to $5,000 for small business owners and commercial property owners to use for infrastructure protection or upgrades, like generators or flood barriers.
The program is expected to initially help approximately 450 small businesses. Funds will be provided on a first-come, first-serve basis for qualifying businesses. Qualifying businesses will be owners or tenants in commercial properties located in areas at risk or with exposure to flooding; businesses that have occupied that commercial space for at least one year; have an annual revenue for the prior calendar year of no more than $30 million; and not previously have received any other grant or benefit related to resiliency.
Awards will be offered in two rounds. The first round will include businesses with no more than $17 million in annual revenue, and the second round will consider all other applicants whose annual revenue does not exceed $30 million. Businesses interested in applying can call 888-SBS-4NYC or go to nyc.gov/businessprep.
In addition to this program, the Department of Small Business Services has a Business Preparedness Self-Assessment Tool for tailored recommendations about how to improve emergency preparedness. The efforts are part of the City’s larger climate strategy to prepare and protect New Yorkers from growing climate dangers, including more frequent powerful storms. This initiative was a partnership between Small Business Services and the Mayor’s Office of Climate and Environmental Justice
SBS Commissioner Kevin D. Kim stated, “SBS is committed to providing our small businesses with essential tools and resources to prepare for natural disasters. After more than a decade of historic floods and the accelerating impact of climate change, our city must be resilient in the face of unpredictability. We are proud to announce our grant program in collaboration with our partners at the Mayor’s Office of Climate and Environmental Justice and other city agencies and urge business owners in every borough to seize this opportunity and enhance their climate readiness.”
NYC Emergency Management Commissioner Zach Iscol stated, “New York City’s small businesses are the cornerstone of our city’s economy, offering essential services, creating jobs, and contributing to the unique character of our neighborhoods. But the escalating frequency of natural disasters represents a challenge to these vital establishments. Our collaboration with SBS has enhanced the Business Preparedness and Resiliency Program, now including targeted flood mitigation measures and a risk assessment service that is based on NYCEM’s Community Risk Assessment Dashboard. Offering up to $5,000, BPREP grants empower businesses to take proactive measures against future emergencies and are part of a broader initiative to build business resilience, including our partnership with SBS on the ReadyNY for Business guide and resources on our website.”
By: Veronica Rose (Veronica is the Editor of CityLand and a New York Law School graduate, Class of 2018.)