Climate change is already starting to affect small businesses in flood zones. Here's what the experts say about preparing your business for natural disasters.

Marcus Lim

A neighborhood in Key Largo was flooded for more than 40 days.

• Climate change will be devastating for the planet over the next century, but it is already impacting small businesses now.
• Areas prone to wildfires, rising sea levels, or hurricanes pose great personal and financial risk.
• One study found that climate change is the No. 1 threat to the economy because of higher insurance costs and loss of business.
• Experts who work with local businesses, including an investment banker and Miami's first chief resilience officer, told Business Insider how to weather through environmental hazards.
• Click here for more BI Prime stories.

Last year, a neighborhood in Key Largo, Florida, felt the full effects of rising sea levels. For more than 80 days, the low elevated streets of Stillwright Point were flooded with saltwater, leaving residents trapped in their homes, unable to work.

Mike Turner works as a window tinter who frequently goes to the neighborhood. He said because of the corrosive saltwater, he had to limit jobs in the neighborhood, fearing damages to his car.

"People didn't want to go out, some of their cars can't drive through the water," Turner said. "The water was up to the knees."

Flooding wasn't new for the neighborhood, but local news source Keys News reported that the longest previous flooding lasted 22 days. It had been over 80 days. Local meteorologists said in the report that the flooding was caused by rising sea levels due to warmer ocean water temperatures.

Though the flooding cleared by November, Turner said it served as a stark reminder of how extreme weather affects businesses.

The climate crisis will be devastating for the planet over the next century, but it is already impacting small businesses now. Areas prone to wildfires, rising sea levels, or hurricanes pose great personal and financial risk.

Research published in September of last year by Willis Towers Watson, a global insurance and advisory company, categorizes events that will have a high impact on global economic growth. The paper highlights climate change as the No. 1 concern. Climate change first appeared in their rankings in 2013 and has moved its way up ever since.

Higher insurance costs, loss of business, and adopting greener initiatives have been the main threats of climate change, according to the study.

We talked with an investment banker who works with small businesses and Miami's first chief resilience officer. They said there are several precautions you can take to withstand natural disasters.