The Economic Effects on Small Buisnesses' in the US Virgin Islands post Hurricanes Irma and Maria

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Business Finance

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Create a well organize 5 page research paper on The Economic Effects on Small Businesses' in the US Virgin Islands post Hurricanes Irma and Maria.

The research paper elements:

Introduction (must Include a clearly stated thesis)

Body (5 point)

Conclusion ( Restated Thesis)

Work cited ( at the least 5 verifiable Sources)


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Written in MLA format

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Factual

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Explanation & Answer

Attached.

Surname 1
Name
Instructor
Course
Date
Effects of Hurricanes Irma and Maria on Small Businesses
Introduction
The Virgin Islands were hit with two hurricanes in 2017 which caused a major economic
crisis in the region. The two hurricanes, hurricane Irma and Maria which are category five
hurricanes caused serious destruction to the infrastructure since they hit the region within twelve
days. Hurricane Irma was the first to hit the Caribbean on September 6th causing damage to
businesses and homes in the region and was followed by hurricane Maria one week later
sweeping through the region causing more catastrophic damage. The Virgin Islands were hit
most than any place in the United States and many families were left homeless after their homes
and business were destroyed.
Effects of Hurricanes Irma and Maria
With a population of around a hundred thousand people, more than forty thousand of
them were affected and were left to depend on the government agencies for assistance (Palmie &
Francisco 77). Even after the disaster, many people have still not gotten back to their normal
lives and businesses due to the financial setback suffered. They are still struggling to survive and
rebuild their lives. Many small businesses have yet to resume operations leading to deterioration

Surname 2
of the economy since they were sources of income to the people and the government through
payment of taxes.
They were also sources of employment for many people who now depend on aid from the
government. Some parts still have no power or water supply which is essential for some
businesses making the resumption of the small businesses impossible. Goods and equipment
used in business operations were damaged with the debris and can no longer be used whereas the
owners of the businesses cannot afford to purchase others. Hurricanes Irma and Malia led to
catastrophic economic effects on small businesses in the Virgin Islands.
The virgin island was a tourist site with many hotels and restaurants which catered for the
many tourists who toured th...


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