Atlanta's small businesses are still reeling from the financial turmoil following the city's massive water main breaks, which left some establishments temporarily underwater, in a literal sense. According to FOX 5 Atlanta, the estimated losses for local ventures like SBD+ and MoreLyfe Juice Co. range into thousands of dollars per day, with totals potentially accumulating into tens of millions, according to Emory University Finance Professor Tom Smith. Mayor Andre Dickens has since announced a $5 million relief fund, but as Smith remarked, it likely "is not going to cover everything."
Bruce Logue, owner of BoccaLupo, gave up his planned day off to recoup some of the $24,000 he estimates were lost due to the forced closures, as detailed in an interview with The Atlanta Journal-Constitution. The impact of the infrastructure failure has prompted the local government to propose financial assistance through Invest Atlanta to cover lost revenue, wages, and related expenses, with details on eligible businesses to be defined in forthcoming council committees.
Trinket Lewis, co-founder of MoreLyfe Juice Co., expressed the urgency of the season for her business and the scale of loss inflicted by the water crisis, compounded by prior traffic disruptions, to media outside a City Council meeting. On the insurance front, experts like Andy Siegel, president of Siegel Insurance, explained business interruption policies and the nuances of utility interruption coverage, which may offer some respite to businesses depending on individual policy details.
While the promise of relief is on the horizon, the uncertainty of delivery and sufficiency of funds remain a concern. Leslie Cohen, owner of Firepit Pizza and Birdcage, is one of the business owners navigating the murky after-effects, sifting through insurance paperwork and contemplating her eligibility for the city's aid.
As Atlanta grapples with the Herculean task of repairing and replacing an aging water infrastructure—a move projected to cost billions—business owners and city officials alike are faced with a daunting reality of financial recovery and risk assessment for a city that prides itself on being business-friendly.
