Business Insights and Conditions Survey questions: 30 October to 12 November 2023

These questions are for Wave 95 of the fortnightly Business Insights and Conditions Survey (BICS) dispatched on 30 October 2023.

Which of the following statements best describes your business's trading status? 

• Currently fully trading 

• Currently partially trading 

• Paused trading but intends to restart in the next two weeks 

• Paused trading and does not intend to restart in the next two weeks 

• Permanently ceased trading

How did your business's turnover in October 2023 compare with the previous calendar month?   

• Turnover increased  

• Turnover stayed the same  

• Turnover decreased  

• Not sure 

What are your business's expectations for turnover in December 2023? 

• Expect turnover to increase  

• Expect turnover to stay the same  

• Expect turnover to decrease  

• Not sure

How did the prices of goods or services bought by your business in October 2023 compare with the previous calendar month? 

• Prices increased 

• Prices stayed the same 

• Prices decreased 

• Not sure 

• Not applicable 

How did the prices of goods or services sold by your business in October 2023 compare with the previous calendar month? 

• Prices increased 

• Prices stayed the same 

• Prices decreased 

• Not sure 

• Not applicable 

What are your business's expectations for the prices of goods or services sold in December 2023? 

• Prices will increase 

• Prices will stay the same 

• Prices will decrease 

• Not sure 

• Not applicable 

Which of the following factors, if any, are causing your business to consider raising prices in December 2023? 

• Energy prices 

• Finance costs 

• Labour costs 

• Raw material prices 

• Other (Please describe) 

• Not sure 

• Business is not considering raising prices 

How did your business's domestic demand for goods and services in October 2023 compare with the previous calendar month? 

• Demand increased 

• Demand stayed the same 

• Demand decreased 

• Not sure 

• Not applicable 

How did your business's international demand for goods and services in October 2023 compare with the previous calendar month? 

• Demand increased 

• Demand stayed the same 

• Demand decreased 

• Not sure 

• Not applicable 

Has your business been affected by recent increases in energy prices? 

• Yes, production has been affected 

• Yes, suppliers have been affected 

• Yes, both production and suppliers have been affected  

• No, the business has not been affected  

• Not sure  

• Not applicable 

In which of the following ways, if any, has your business been affected by price rises? 

• Discontinued lines of sale  

• Had to absorb costs  

• Had to access more financial support  

• Had to change suppliers  

• Had to make redundancies  

• Had to pass on price increases to customers  

• Had to reduce staff work hours  

• Unable to maintain workspaces  

• Other (Please describe) 

• Not sure 

• Business has not been affected by price rises

How did your business's stock levels of raw materials in October 2023 compare with the previous calendar month? 

• Stock levels were higher  

• Stock levels stayed the same  

• Stock levels were lower  

• Not sure 

• Not applicable 

How did your business's stock levels of finished goods in October 2023 compare with the previous calendar month? 

• Stock levels were higher  

• Stock levels stayed the same  

• Stock levels were lower  

• Not sure  

• Not applicable 

Is your business stockpiling any goods or materials? 

• Yes 

• No 

• Not sure  

Where is your business sourcing these stockpiled goods or materials from? 

• UK suppliers 

• EU suppliers 

• Non-EU suppliers 

• Not sure 

Which of the following goods or materials is your business stockpiling? 

• Agricultural products 

• Chemicals 

• Coal, gas or oil 

• Food and beverages 

• Manufacturing parts 

• Materials 

• Personal Protective Equipment (PPE)  

• Pharmaceuticals  

• Other consumer goods  

• Other (Please describe) 

• Not sure 

Where are the stockpiled goods or materials being stored? 

• UK 

• EU countries 

• Non-EU countries 

• Not sure

Which of the following, if any, will be the main concern for your business in December 2023? 

• Business rates 

• Competition with other UK businesses 

• Energy prices 

• Exchange rates 

• Falling demand of goods and services 

• Inflation of goods and services prices 

• Interest rates 

• Property rental costs 

• Supply chain disruption 

• Taxation 

• Other (Please describe) 

• Not sure 

• No concerns for the business 

In the last 12 months, has your business sold goods or services to customers in other UK nations? 

• Yes 

• No 

• Not sure 

In the last 12 months, which of the following challenges, if any, has your business experienced when selling goods or services to customers in other UK nations? 

• Challenges related to the Northern Ireland Protocol 

• Differences in rules or regulations 

• Lack of demand 

• Supply chain disruption 

• Transport capacity 

• Transport costs 

• Other (Please describe) 

• Not sure 

• Business did not experience any challenges

In October 2023, approximately what percentage of your business's workforce were: 

• Working from a designated workspace 

• Working from home 

• Using a hybrid model of working  

• Not working due to sickness  

• Made permanently redundant  

• Other 

How did the number of employees at your business in October 2023 compare with the previous calendar month? 

• Number of employees increased  

• Number of employees stayed the same  

• Number of employees decreased  

• Not sure 

What are your business's expectations for the number of employees in December 2023? 

• Number of employees will increase  

• Number of employees will stay the same  

• Number of employees will decrease  

• Not sure 

Did your business experience any difficulties recruiting employees in October 2023? 

• Yes  

• No 

• Not sure 

• Not applicable

How has the number of workers from within the EU at your business in October 2023 changed compared with this calendar month last year? 

• Number of workers from within the EU has increased  

• The business employs workers from within the EU, and the number has stayed the same  

• Number of workers from within the EU has decreased  

• Not relevant, as have not employed workers from within the EU  

• Not sure  

• Prefer not to say 

How has the number of workers from outside the EU at your business in October 2023 changed compared with this calendar month last year? 

• Number of workers from outside the EU has increased  

• The business employs workers from outside the EU, and the number has stayed the same  

• Number of workers from outside the EU has decreased 

• Not relevant, as have not employed workers from outside the EU  

• Not sure  

• Prefer not to say

Is your business concerned about the impact climate change may have on the business? 

• Yes, very concerned  

• Yes, somewhat concerned  

• No, not concerned  

• Not sure 

Which of the following actions, if any, has your business taken to protect the environment? 

• Has a climate change strategy 

• Has a nature or biodiversity strategy 

• Has a nature or biodiversity target 

• Has a nature or biodiversity target which includes supply chain 

• Has a net zero or greenhouse gas emissions target 

• Has a net zero or greenhouse gas emissions target which includes supply chain 

• Monitors climate-related risks 

• Monitors nature or biodiversity-related risks 

• Publishes an annual sustainability report 

• Other (Please describe) 

• Not sure 

• None of the above 

Which of the following actions, if any, have you taken to reduce your business's carbon emissions? 

• Adjusting heating and cooling systems 

• Electrifying your vehicle fleet 

• Installing a smart meter  

• Installing charging points  

• Installing your own renewable electricity or heating  

• Insulating your buildings  

• Introducing a cycle to work scheme 

• Switching to LED bulbs  

• Other (Please describe) 

• Not sure  

• No actions have been taken to reduce emissions 

Which of the following barriers, if any, have prevented your business from taking action to reduce its carbon emissions? 

• Cost 

• Lack of access to infrastructure 

• Lack of information or guidance 

• Lack of relevance to the business 

• Lack of skilled labour to implement change 

• Other (Please describe) 

• Not sure 

• Business has not been prevented from taking action 

To what extent are climate change impacts considered in your business's investment plans? 

• Always considered 

• Sometimes considered 

• Rarely considered 

• Never considered 

• Not sure

In October 2023, how did your business's debt repayments compare with turnover? 

• Repayments were more than 100% of turnover 

• Repayments were between 50% and 100% of turnover  

• Repayments were between 20% and 50% of turnover  

• Repayments were up to 20% of turnover  

• Not sure  

• Not applicable 

How much confidence does your business have that it will meet its current debt obligations? 

• High confidence  

• Moderate confidence  

• Low confidence  

• No confidence  

• Not sure  

• Do not have any debt obligations 

What is your business's risk of insolvency? 

• Severe risk  

• Moderate risk  

• Low risk  

• No risk  

• Not sure  

• The business is insolvent 

How would you describe your business's overall performance in October 2023, compared with this calendar month last year? 

• Performance increased  

• Performance stayed the same  

• Performance decreased  

• Not sure 

How do you expect your business's overall performance to change over the next 12 months? 

• Performance will increase  

• Performance will stay the same  

• Performance will decrease  

• Not sure

Please tell us anything else about your business's current situation relating to topics covered in this survey: 

• Comments