Hurricane Helene took a significant economic toll on small businesses in Georgia, according to new data from Fiserv. At the height of the storm’s impact, consumer spending came to a virtual standstill, with statewide small business sales plummeting 19% from 9/26-9/29 (compared to the same period in 2023). Since 9/30, though, sales have recovered somewhat – up 5.5% year-over-year, driven by a surge in spending on lumber, hardware, and accommodations.
Fiserv measures spending at some 2 million small businesses nationwide every month – but can also track sales over specific timeframes and in specific regions (down to the zip code) to measure the impact of developments like storms. Some of Fiserv’s detailed findings on the storm’s impact in Georgia:
• In Augusta-Richmond County, consumer spending at small businesses plummeted 57% during the three-day storm period (9/26-9/29).
o In the run-up to the storm, sales had increased by 8.3% (from 9/21-9/25).
o Afterward, however, sales plummeted, with spending decreasing by 22.5% below what it was last year (9/30-10/6).
• Savannah and Valdosta also took major hits, with small business sales dropping 27.5% and 59.8%, respectively, during the peak storm period.
• The least affected region: the Atlanta – Sandy Springs – Alpharetta area, where sales dropped only 15.3% during the storm and surged 7.3% afterward.
Fiserv analyzed small business sales over three specific timeframes: Storm Preparedness/Pre-Storm (9/21-9/25), Landfall/Impact Period (9/26-9/29), and Recovery (9/30-10/6).
