Business Insights and Conditions Survey questions: 3 April to 16 April 2023

These questions are for Wave 80 of the fortnightly Business Insights and Conditions Survey (BICS) dispatched on 3 April 2023. These are the most up-to-date survey questions.

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 March 2023 compare with the previous calendar month?

• Turnover increased

• Turnover stayed the same

• Turnover decreased

• Not sure

Which of the following challenges, if any, are currently impacting your business's turnover?

• Competition

• Cost of labour

• Cost of materials

• Economic uncertainty

• Financial costs

• Insufficient domestic demand

• Insufficient international demand

• Lack of equipment

• Shortage of labour

• Shortage of materials

• Weather conditions

• Other (Please describe)

• Not sure

• Not currently experiencing any challenges

What are your business's expectations for turnover in May 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 March 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 March 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 May 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 May 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 March 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 March 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

• The business has not been affected by price rises

How did your business's stock levels of raw materials in March 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 March 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

What are your business's expectations for capital expenditure over the next three months?

• Capital expenditure will increase

• Capital expenditure will stay the same

• Capital expenditure will decrease

• Not sure

• Not applicable

Why is your business expecting to authorise capital expenditure in May 2023?

• For replacements

• To expand capacity

• To increase efficiency

• To provide new services

• To reach new customers

• To use new technology

• Other (Please describe)

• Not sure

• Not applicable

Which of the following, if any, do you expect to limit your business's capital expenditure in May 2023?

• Inability to raise external finance

• Inadequate return on proposed investment

• Shortage of internal finance

• Shortage of labour

• Uncertainty about demand or business prospects

• Other (Please describe)

• Not sure

• Not expecting any limits to capital expenditure

Did your business scrap any capital assets earlier than intended in March 2023?

• Yes

• No

• Not sure

• Not applicable

Please explain in more detail what type of assets your business scrapped early and why

• Comments

Does your business currently use any of the following artificial intelligence applications?

• Chatbots

• Voice assistants

• Autonomous vehicles

• Spam filters

• Facial recognition

• Personalised shopping

• Robotics

• Not sure

• Not applicable

Does your business plan to use any of the following artificial intelligence applications?

• Chatbots

• Voice assistants

• Autonomous vehicles

• Spam filters

• Facial recognition

• Personalised shopping

• Robotics

• Not sure

• Not applicable

What does your business currently use, or plan to use, artificial intelligence applications for?

• Create efficiencies to reduce costs or increase productivity

• Provide a more personalised service to customers

• Developing a new product or service

• Improving cybersecurity

• Other (Please describe)

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

• Using a hybrid model of working

• Working from home

• Working from a designated workspace

• Not working due to sickness

• Made permanently redundant

• Other

How did the number of employees at your business in March 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 May 2023?

• Number of employees will increase

• Number of employees will stay the same

• Number of employees will decrease

• Not sure

How has your business's staffing costs changed over the last three months?

• Costs have increased

• Costs have stayed the same

• Costs have decreased

• Not sure

• Not applicable

How does your business expect staffing costs to change over the next three months?

• Costs will increase

• Costs will stay the same

• Costs will decrease

• Not sure

• Not applicable

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

• Yes

• No

• Not sure

• Not applicable

Which of the following employees has your business had difficulties in recruiting?

• Clerical employees

• Professional or managerial employees

• Semi-skilled or unskilled employees

• Skilled, manual or technical employees

• Other (Please describe)

• Not sure

Why did your business experience difficulties in recruiting employees?

• Business cannot offer an attractive pay package to applicants

• Increased number of vacancies

• Lack of qualified applicants for the roles on offer

• Low number of applications for the roles on offer

• Reduced number of applicants aged 16 to 24 years

• Reduced number of applicants aged over 50 years

• Reduced number of EU applicants

• Other (Please describe)

• Not sure

In March 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 long do you expect your business's cash reserves will last?

• Less than 1 month

• 1 to 3 months

• 4 to 6 months

• More than 6 months

• Not sure

• Business has no cash reserves

How would you describe your business's overall performance in March 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