Small Businesses Still Feel Fallout From Superstorm

NEW YORK (April 21, 2014) A third of small businesses in tri-state Superstorm Sandy disaster areas reported financial losses a year later, the Federal Reserve Bank of New York said Monday.

An online poll was conducted from Oct. 10 to Dec. 31, 2013 that looked at businesses in New York City, New York's Hudson Valley, New Jersey and coastal Connecticut with fewer than 500 employees in sectors including manufacturing, retail, construction, real estate, leisure and hospitality.

Of those sustaining economic losses, 22 percent reported they totaled more than $100,000, while 61 percent reported operating at a profit or breaking even.


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