Business insights and impact on the UK economy: 4 January 2024

• In November 2023, 73% of trading businesses with 10 or more employees reported that they were able to get the materials, goods or services they needed from within the UK without disruption, up 6 percentage points from October 2023; approximately 1 in 9 (12%) were unable to get the materials, goods or services they needed from within the UK, or had to change suppliers or find alternative solutions to do so, remaining broadly stable over the same period. 

• In November 2023, 5% of businesses with 10 or more employees experienced global supply chain disruption; with 27% of those businesses reporting a shortage of materials as the main reason for the disruption.

• In Mid-December 2023, 85% of businesses reported they were not currently using artificial intelligence (AI); while 83% are not planning to adopt AI within the next three months, both broadly stable with late September 2023.

• Less than 1 in 10 (9%) businesses experienced worker shortages in Mid-December 2023, with 43% of those businesses reporting they were unable to meet demands as a result, both broadly stable compared with late November 2023. 

• Less than 1 in 10 (7%) businesses reported that employee hourly wages had increased in November 2023 compared with October 2023, while 81% reported wages stayed the same.

• Approximately 4% of businesses were affected by industrial action in November 2023, the lowest proportion reported since this question was introduced in June 2022; of those businesses affected, almost a third (32%) reported their workforce had to change their working location.

The data presented in this bulletin are the final results from Wave 98 of the Business Insights and Conditions Survey (BICS), which was live from 11 December to 24 December 2023.

The data reported within BICS bulletins and datasets are estimates that are subject to uncertainty, for example, sampling variability and non-sampling error. Further information on quality is available in our Business Insights and Conditions Survey Quality and Methodology Information (QMI), and we regularly update confidence intervals associated with the survey questions.

Experimental single-site weighted regional estimates up to Wave 92 are available in our Business insights and impact on the UK subnational single-site economy: November 2023 article.

Figure 1: Headline figures from the Business Insights and Conditions Survey

Notes

1. For presentational purposes, some response options have been combined, excluded or both.
2. Data are plotted in the middle of each wave.

The percentage of businesses that reported they were trading in mid-December 2023 was 95%, with 87% fully trading and 9% partially trading (for example, trading with reduced hours or staff numbers). Meanwhile, 3% of businesses reported "temporarily paused trading" and 2% reported "permanently ceased trading" as their business's trading status.

Access to microdata

You can access the microdata for Waves 1 to 97 of the Business Insights and Conditions Survey (BICS) through the Secure Research Service (SRS). The BICS microdata for each wave are released on a rolling basis in the week following the publication of each wave. The microdata are made confidential and do not disclose information on any specific business. 

Only researchers accredited under the Digital Economy Act, as explained on the UK Statistics Authority website are able to access data in the SRS. You can apply for accreditation through the Research Accreditation Service (RAS). You need to have relevant academic or work experience and must successfully attend and complete the assessed Safe Researcher Training.

To conduct analysis with microdata from the SRS, a project application must be submitted to the Research Accreditation Panel (RAP), as explained on the UK Statistics Authority website. To access the SRS, you must also work for an organisation with an Assured Organisational Connectivity agreement in place.

Reporting unit

The reporting unit is the business unit to which questionnaires are sent. The response from the reporting unit can cover the enterprise as a whole, or parts of the enterprise identified by lists of local units.

More quality and methodology information (QMI) on strengths, limitations, appropriate uses, and how the data were created is available in our Business Insights and Conditions Survey (BICS) QMI, which was updated on 24 January 2022. 

The BICS is voluntary, and the results are experimental. More information is available in our Guide to experimental statistics.

The results are based on responses from the voluntary fortnightly BICS, which captures businesses' views on financial performance, workforce, prices, trade and business resilience. The Wave 98 survey was live for the period 11 December to 24 December 2023. For full details of the survey questions used, see our Business Insights and Conditions Survey questions: 11 December to 24 December 2023 article. 

Coverage

The BICS sampling frame is based on the same industries as our Monthly Business Survey (MBS). The MBS covers the UK for production industries only, and Great Britain for construction, retail and services industries. The MBS is an important input to the output measure of gross domestic product (GDP), which includes monthly GDP. 

For detailed information on the industries covered by the MBS and BICS, see our GDP(o) data sources catalogue dataset. The following are industries that are excluded from MBS and BICS:

• agriculture
• oil and gas extraction
• energy generation and supply
• public administration and defence
• public provision of education and health
• finance and insurance

For more information on the methodology of producing the BICS, such as weighting, please see our Business Insights and Conditions Survey (BICS) QMI report.

More quality and methodology information (QMI) on strengths, limitations, appropriate uses, and how the data were created is available in our Business Insights and Conditions Survey (BICS) QMI.