The occurence of flood is a natural phenomenon the world over. This occurence has no limit to geographical boundaries or scientific advancement of any nation. Critical flood disaster incidents like the Katrina 2004 in the United States, Pakistan 2012, United Kingdom 2012 and Nigeria 2012 are cases in point on the devastating power of nature. Along with this vagaries of the weather comes some debilitating effects on man and it's surrounding of which the economic welbeing and shelter is adversely affected.This paper takes a critical look at the occurence of this natural disaster , it's effect on small scale business and commercial properties in which these businesses are located. A case study of one semi-urban area (ahoada town) was selected, studied and useful recommendations offered.