As well as the coronavirus being a major cause for concern from a health perspective, the virus is also having an impact on the manufacturing sector.
Since the outbreak began, China has closed a number of factories to try and stop the spread of the virus. This has affected global supply chains.
Companies affected by the coronavirus outbreak
Jaguar Land Rover issued a warning that they may run out of car parts in their British factories; and Apple also warned of possible iPhone supply shortages.
Digger maker JCB has cut working hours for production staff because of delayed supplies of vehicle parts.
Mous is another British company facing disruption. It makes shockproof phone covers for iPhones and Samsung models, with around 30 of their 100 or so employees based in mainland China. That office has been closed since before January and some of the company’s suppliers are running reduced production. Co-founder Will Mullen says another 60 days’ disruption would be problematic for them.
Many major firms will be issuing trading updates this week and China will officially report on its manufacturing sector to give a clear indication of just how industry and business has so far been affected.
We’re still in the early stages of the outbreak but experts warn that if tackling the crisis becomes a question of months rather than weeks, the economic impact could be serious.
Help for the manufacturing sector
If you’re the director of a company that is having financial problems due to the coronavirus, we can help you. We have more than 25 years’ experience in helping companies in the manufacturing sector deal with their business debt problems.
Getting professional help is crucial and, with our knowledge of the manufacturing sector, we can give you the expert advice that you need.
Contact Clarke Bell for your free advice on 0161 907 4044 / [email protected]