OVER three-quarters of West Midlands firms have felt the impact of the Jaguar Land Rover (JLR) cyber-attack, a survey from the region’s three Chambers of Commerce has revealed.
The Greater Birmingham, Black Country and Coventry & Warwickshire Chambers of Commerce conducted a snap survey in a bid to understand the impact of the cyber-attack across the region.
A total of 84 businesses, representing nearly 30,000 employees in the West Midlands, were consulted.
Of the firms surveyed, 77 per cent said the cyber-attack has had a negative impact on their business, with 44 per cent describing the impact as ‘significant’.
And 45 per cent reported a negative financial impact – including loss of revenue, increased costs and a slowdown in customer payment slow down.
A further 33 per cent reported operational disruption, such as delays and system downtime, while 26 per cent said the attack has caused disruption to the supply chain, including delays with goods and services.
More than half (57 per cent) want to see financial support – in the form of grants, compensation and access to credit – to negate the impact.
And 19 per cent are calling for specific protection from exposure under the Insolvency Act until the crisis ends.
Businesses have adopted a number of measures to mitigate the impact – including reducing staff hours (35 per cent), seeking additional financial advice (17 per cent) and strengthening their own cyber security procedures (35 per cent).
Raj Kandola, acting deputy CEO of Greater Birmingham Chambers of Commerce, said: “The results from our snap poll make it eye wateringly clear the direct impact the JLR cyber security attack has had on businesses across the region with many citing a notable drop in revenue, spiralling costs and huge operational disruption.
“Whilst we recognise it’s a small sample window, the fact these businesses collectively employ almost 30,000 people across the West Midlands reinforces the need for the government and its partners to act decisively and support firms that are facing enormous uncertainty right now.
“We will be sharing this vital data with key stakeholders regionally and nationally – including the West Midlands mayor, regional MPs and contacts in Westminster – to ensure the severity of the situation is fully reflected in any proposed policy programmes designed to mitigate the impact of the attack.
“These businesses have made it clear they need immediate financial support to get their operations back on track as time is of the essence.”
