ASHEVILLE, N.C. (828newsNOW) — Nearly a year after Tropical Storm Helene swept through Western North Carolina, Asheville’s small businesses are still recovering from the storm’s economic toll, according to a new analysis by financial services firm Fiserv.
The city’s small businesses lost an estimated $563 million in sales from September 2024 through July 2025, the study found. Sales in 2025 remain about 12.5% below pre-storm levels.
Much of the decline came from service businesses, which dropped by about $483 million, while goods-related businesses lost another $80 million. Sectors closely tied to tourism saw the steepest losses: real estate (down $335 million), restaurants (down $160 million) and hotels (down $73 million).
“Part of the magnitude of the devastation was that Asheville simply wasn’t as prepared as other U.S. cities that face hurricanes more frequently,” said Mike Spriggs, head of consumer insights at Fiserv. “But the rate of recovery given the amount of devastation has been encouraging.”
Fiserv’s Small Business Index tracks activity at more than 2 million U.S. merchants. Spriggs said Asheville’s recovery is uneven but showing progress. Sales deficits have narrowed in recent months, dropping from 12.5% below pre-storm levels in July to 9.6% below by September.
September also marked Asheville’s first month of year-over-year growth since Helene: overall sales were up 7% compared with September 2024. Goods sales rose 14%, while service sales increased 4.5%.
Despite overall losses, some categories have grown. Contractors added $68 million in sales over the past year, while insurance providers and charitable organizations each saw about $26 million in gains. Retailers in food, general merchandise and sporting goods also reported improvements.
“Asheville’s economy depends heavily on hospitality and tourism,” Spriggs said. “Seeing restaurants up 16% and hotels up 5.7% in September alone is a really good sign. It tells us infrastructure is coming back, consumers are coming back and demand is coming back.”
While small business sales across the U.S. have climbed since early 2023, Asheville remains an outlier because of Helene’s flooding, which followed weeks of heavy rain and caused catastrophic damage. Still, Spriggs said he believes the city is “headed in the right direction.”
“If September is any indication of what’s to come, Asheville’s small business community should be very optimistic,” he said.
Efforts to reach the Asheville Chamber of Commerce for comments about these statistics were unsuccessful.
