9/11 Effects On Small Business Still Experienced Now

how 9/11 impacted small businesses us september 11th economic impact

America is one of the nations that is known for its backup plans and strategies that help save citizens from the most difficult of times and crises. While the US had many backup plans and insurances ready for any disaster and market failure, no one was ready for what the day September 11, 2001 had in store. 

The devastating attacks on September 11th made it one of the most gruesome and high-level attacks on a country, while producing an immense amount of damage caused in front of millions of people's eyes. The trade center deeply impacted New York, and the people of this state and nearby New Jersey, suffered tragic events beyond the crash. 

The survivors are still in shock after several years, and the 9/11 is commemorated with all its heartbreaking details still fresh in everyone's minds. The most affected was the economy all over the country. Not many people may have noticed, but the small business on the streets nearby had to close forever or bear extensive damages from the eruptions. 

Following are some ways that small businesses are still under the influence of the 9/11 events as the people with physical, mental, and financial problems from the day: 

At The Time Of The Attack 

The business around the Twin Towers quickly had to evacuate when the attacks happened one after the other. Some of these small businesses also got injured during the time they were taking to help people out of their shops and shutting them down. There are even pictures to show these business owners running for their lives and their customers leaving their business unattended while the tragedies were occurring. The ones inside the towers were close to being wholly demolished and some of the people dying. 

The Aftermath 

Small businesses always see the worst of it in a nationwide crisis or a worldwide one, like the coronavirus pandemic. And when the planes struck one by one, these small shops, eateries, and promising companies, were completely such down. The streets were ghosted for several days. But the first people to go back were small business owners to check up on their companies. Obviously, they were severely damaged. But the more hurtful experiences began later when the economy shot downward, and it became hard for these owners to stay in business due to fear of as well. 

Conditions Today 

Although the situation is far out of the 9/11 era, there still have to be some aftereffects of such a substantial national accident that brought the stock market down by more than 10% in just a few days. There isn't an estimation, but several of the small businesses had to shut down due to increased gas, gold, and utility items rates. Sky-high business rents to pay, customers not visiting as often, halt of the supply chain, and a lot more unimaginable these days. Below are some of the aftereffects still experienced to this day: 

Overhyped Security Measures 

Due to the panicked and alarmed state of all the citizens in and around the Twin Towers, the public of today still feel unsafe and disturbed always. When moving outside or going into small business shops, they may feel unsafe. Likewise, business owners have become frantic for the safety of their business and customers. Hence, there is a frenzy in safety measures and a push from the government as well to implement them, with added insurances that take a lot out of the pocket of small business owners. 

Built-Up Stress 

Even though there was immense help from the government at the time to help back up the losses and frozen sales to help small business owners, there was still fear. The survivors of the attack and generally the whole nation were scared to leave the house, let alone enter a plane ever again. Thus the small business around the airport areas and that in Manhattan were totally ignored. These days, the stress is still there, although the people have returned. For several years, consumers didn't enter the markets and a large part of the survivors and the people who know them keep away from small stores. 

On-Going And Late Onset Health Problems 

Those business owners who experienced tremendous hits from the 9/11 impacts experienced the worst market crash of the time and are still fearful of it. Such an experience leaves a mark on you, and these small business owners were battling out for survival several days after the attacks. 

Although the stress of the financial hit many of these businesses took was tremendous, many survivors living and working within the disaster area also suffered an array of health problems. The WTC Lawyers are working hard for individuals affected by the attacks and those exposed to the toxic dust. Working with a lawyer can help streamline your WTCHP application and help you to get covered screening and medical care for any eligible health conditions related to the tragic events. 

Tried And Tested 

As said before, market crashes and damages to the economy take small businesses down first. This is the reason that they haven't been able to revive considerably. And as things started looking better, the pandemic hit. The lockdown is making it hard for these businesses to keep having workflow and sales. The government is helping as always, but the depression and stress are high, potentially even similar to the 9/11 attacks. Perhaps there can be some learning points for consumers, that in these dire times, it is important to support local businesses more than ever.

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