Every summer and fall season, Western North Carolina welcomes visitors searching for mountain views, live music, local restaurants, and the unique character found only in our communities. This year, that seasonal tradition carries added significance. For many small businesses still recovering from Hurricane Helene, the months ahead represent more than a busy tourism season. They represent another opportunity to rebuild, reinvest, and move forward.
The stakes are clear in the data. According to the Asheville Area Chamber of Commerce’s Hurricane Helene Business Feedback Survey conducted in fall 2025, 79% of regional businesses rely at least partially on travelers and visitors to sustain their revenue and operations. One in four described visitors as essential to the business. That dependence cuts both ways: it is what makes Western North Carolina’s economy distinctive, but also what made the post-Helene period difficult for so many.
One year after the storm, 68% of businesses surveyed were still operating at or below break-even or remained temporarily or permanently closed. Within that figure, 30% covered costs but did not earn a profit, and another 30% were operating at an outright loss. Eighty-four percent reported revenue loss tied to the storm, with 35% estimating losses of $100,000 or more. Arts and entertainment, food service, and accommodations – the industries most directly tied to visitor traffic, reported the greatest strain.
Yet, the same data signals profound progress and resilience. Sixty-seven percent of respondents said their business was not at risk of closure over the next six months, up from 43% in the February 2025 survey. Sixty-three percent held staffing levels steady. The foundation is there. The summer and upcoming fall season is the opportunity to build on it.
As someone who meets regularly with small business owners across this region, here is where I would focus that energy:
Get clear on your financial position.
The ongoing economic strain in Western North Carolina is real, and it is uneven. Sectors most dependent on visitors and tourism, including arts and entertainment and food service, have faced the steepest challenges.
According to data from the Bank of America Institute, national small business profitability growth was up 0.3% year-over-year in Q1 2026, above Q4 2025 performance, with balance sheets remaining stable broadly. Conditions have since tightened: the Institute’s May 2026 report recorded a 1.3% year-over-year decline in April, driven by rising fuel and tariff-related costs. For Western North Carolina owners, that shift makes a clear-eyed view of your financial position more important now, not less. (Bank of America Institute, “Small Business Balance Sheet Health Sending Mixed Signals,” April 2026; “Small Business Owner Insights,” May 2026)
Start by understanding exactly where your business stands today. Know your cash position, understand upcoming obligations, and identify opportunities to create more flexibility before you need it.
Invest in digital tools with a clear purpose.
Small business spending on technology services, including artificial intelligence, surged more than 14% year-over-year nationally in February 2026 (Bank of America Institute, “Small Business Checkpoint: Productivity Push,” March 2026). Owners who approach digital investment strategically, targeting payment flexibility, customer experience, or operational efficiency through automation, will find a more manageable path to growth. For Asheville-area businesses working to rebuild their customer base, a strong digital presence is also your most direct tool for capturing the attention of visitors before they arrive.
Prioritize your team’s stability.
The survey found that while 63% of businesses held staffing levels steady, 25% reduced the number of staff and 13% reduced staff hours. In a region where workforce stability has been tested, retaining the team you have built carries a premium. Owners should examine the full employee package: financial wellness resources, professional development, and healthcare savings options are increasingly part of what employees weigh when deciding whether to stay.
Protect what you have built by planning for what comes next.
More than half of survey respondents (53%) reported they still required recovery support a year after the storm, citing financial assistance and increased customer demand cited as their most urgent needs. That reality makes succession planning feel distant for some owners. It should not. Defining your personal and business goals, and then working with trusted advisors to map out a transition strategy, is one of the most direct ways to protect the value of everything you have fought to rebuild. If you already have a succession plan, now is the time to review it. The plan you built before the storm may no longer fit the realities of the business, partners, or local market you have today. For many owners, the business represents their largest asset. Recovery planning and growth planning are important, but so is understanding how the value you’ve created translates into long term personal goals, family priorities, and eventual succession.
Western North Carolina’s business community has shown extraordinary determination through an unprecedented time. The data confirms both the scale of the challenges and the undeniable momentum of our progress. The owners I speak with regularly are not waiting for conditions to be perfect. They are making decisions now, with the information and resources available to them. As the number one small business lender in the U.S., Bank of America works with more than 4 million small businesses at every stage of growth.
Western North Carolina has never been defined by the challenges it faces. It has always been defined by the people who respond to them. Two years after Helene, that spirit remains evident in storefronts, workshops, offices, farms, and main streets across our region. The opportunities ahead are real, and so is the momentum. The businesses that continue to adapt, invest, and plan deliberately for the future will help shape what comes next for all of us.
Source: Hurricane Helene Business Feedback Survey, November 2025, prepared by Riverbird Research for the Asheville Area Chamber of Commerce (437 respondents, data collected Fall 2025)
