Running a business is never easy, but after a personal injury, the challenge can be overwhelming. The majority of small business owners already face financial difficulties, with 66% having financial issues, according to recent studies. Add to that medical bills from an injury, restricted mobility, or cognitive impairment, and maintaining a steady cash flow and day-to-day business is even more complicated. Business owners might have to step back from hands-on work, forcing them to rely more on staff or outsourced support—both of which come with additional expense at a time when revenue might already be declining.
For business owners with disabilities, the hurdles are even higher. While 9.5% of disabled workers are self-employed business owners—a higher percentage than the 6.1% of Americans who don’t have disabilities—many aren’t able to keep their businesses going because they have additional accessibility issues and financial constraints. The odds are already stacked against new businesses, with nearly 45% failing within five years, according to the U.S. Bureau of Labor Statistics. An acute injury can accelerate that timeline, especially if the company relies very much on the physical presence of the owner. Resilience, astute financial management, and usually a solid support network to navigate the way forward are required to accommodate new restrictions and keep a company profitable.
One of the things that you may need to do as a business owner with a disability is work with a personal injury lawyer. They can help get the compensation you need to keep your business afloat.
Birmingham is a city that has been drawing people in since 1871, with its abundance of iron, coal, and limestone. With the advantages of being close to nature and an economically flourishing city, it is an ideal place for families. The city currently has a population nearing 200,000.
When a city is flooded with locals and tourists, accidents are inevitable. As different jurisdictions might have different injury laws, it is necessary that victims hire a personal injury lawyer in Birmingham. A local lawyer can help the victim understand the damages they can claim and ensure they get fair compensation.
Economic Damages
After an accident, victims face several challenges that damage them physically and financially. Economic damages are the tangible financial losses faced by the victim. These losses have a set amount that helps to calculate them as there will be receipts.
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Some types of economic damages are:
- Current and future medical expenses: They cover all the current and possible medical costs the plaintiff may have due to the injury caused by the accident.
- Physical or occupational therapy expenses: Victims can get compensated for any physical or occupational therapy required to regain mobility after the accident.
- Travel expenses for medical reasons: It compensates for any travel necessary for medical care.
- Loss of earning potential: If the injury has left the victim incapable of working in the same field or returning to work indefinitely, they can get compensation for the same.
- Lost wages: Victims can receive compensation for the hours or days of work they missed, tending to the accident’s aftermath.
- Replacement or repair of property: If the injury caused property damage, victims can claim compensation for its repair or replacement.
As economic damages can be estimated and calculated, the court can easily establish the amount the defendant needs to pay the victim under economic damages.
Non-Economic Damages
Accidents also take a toll on the victim and their family’s mental and emotional health. Non-economic damages aim to compensate the victim and their family for the pain and suffering caused by the accident. As these losses are intangible, determining appropriate compensation can be more complicated.
Non-economic losses can include:
- Pain and suffering: It compensates for the physical and mental anguish the victim experienced due to the accident.
- Loss of enjoyment of life: If the victim’s injuries stop them from enjoying their life, they can claim compensation for it.
- Loss of consortium: These are usually awarded to the victim’s spouse (some states also award it to the victim’s parents or children) to compensate for the loss of companionship.
- Emotional distress: It compensates for the emotional issues caused by the accident.
- Physical disfigurement: If the accident leads to the victim getting disfigured, they can claim compensation for the same.
- Physical impairment: In cases where the accident causes an impairment, e.g., loss of specific senses or a limb, victims are awarded compensation for it.
As the severity of these losses can depend on each case, the court has established two methods, multiplier and per diem, to help determine the value of a personal injury claim.
Punitive Damages
Punitive damages are not awarded to the victim to compensate for any losses. Instead, it is a form of punishment given to the defendant. These damages are not commonly included in all personal injury cases. They are awarded to cases that involve extreme negligence or misconduct.
Some cases where punitive damages are awarded are:
- Intentional harm: When the defendant had malicious intent towards the victim and harmed them intentionally.
- Reckless behavior: When the incident is caused by the defendant’s irresponsible behavior, such as drunk driving.
- Gross negligence: When the accident results from extreme negligence by the defendant.
Though punitive damages are only included in 5% of court cases, states establish a cap. Various factors contribute to the estimation of the amount of damages awarded. These damages also work as a deterrent for similar behavior in the future.