Climate Change Economic Incentives

Does Climate Change Have An Effect On Small Businesses?

The world is experiencing drastic climate change. This has not been the course of some days or weeks, but it has happened in many years.

Climate can affect lives of people severely. The recent hurricanes, Harvey, Irma and Maria in the USA has left people devastated. Their houses and belongings have been lost, their houses have been distorted, their savings have been affected and those who had small businesses faced extreme losses. It’s not only about hurricanes but the overall temperature and climate change have deteriorated the way of lives overall. The heat waves have now made it impossible for people to enjoy their days outside. Also, the air quality of the atmosphere has deteriorated due to constant emissions from factories, burning of fossil fuels and car emissions, that you find it hard to breathe in fresh air.

The Effect of Climate Change on Small Businesses

Those of you who have recently established a small business or have an established small business, are most likely to face issues.

  • Loss of Revenue

Obviously when there is a storm in a hurricane, you will face a decrease in revenue and profits. If your product is a perishable item, then you will face the loss of it going bad.

  • Tax Increase

The aftermath of a storm causes an increase in taxes everywhere, as the government needs to cover up the costs.

  • Loss of Foreign Revenue

If your business comprised of sending to other parts of the world, then you will face issues in that and lose your regular customers.

  • Fewer Resources

When there is an increase in tax and decrease in revenue, then the resources also decrease, which will cause your business to collapse.

How Can You Help in Climate Change?

The climate is changing, the temperatures are increasing and there is no denying the fact. You may think that you cannot stop anything, but, every person can make a difference.

  • Reduce wastage of water and natural resources as much as you can.
  • Plant more trees, every tree can make a difference.
  • Resort to recycling then throwing away.
  • Create awareness within people you know and create awareness campaigns and also vote for a person who cares about climate change and does something to stop it.