1. Survey information
These questions are for Wave 117 of the fortnightly Business Insights and Conditions Survey (BICS) dispatched on 16 September 2024.
Nôl i'r tabl cynnwys2. Trading Status of Your Business
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
3. Stock
Is your business stockpiling any goods or materials?
Yes
No
Not sure
How did your business's stock levels of raw materials in August 2024 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 August 2024 compare with the previous calendar month?
Stock levels were higher
Stock levels stayed the same
Stock levels were lower
Not sure
Not applicable
4. Supply chains
Which of the following factors, if any, is your business concerned about impacting supply chains over the next 12 months?
Artificial intelligence
Climate change
Cyber attacks
Increased barriers to trade
International conflict
Market distorting practices
Sanctions
Shipping disruption
Other
Not sure
Business is not concerned about factors impacting supply chains over the next 12 months
How does your business expect these factors to impact supply chains?
Increased costs of sourcing materials
Increased labour costs
Increased transportation costs
Shortage of inputs
Other
Not sure
Business does not expect these factors to impact supply chains
Which of the following actions, if any, did your business take to increase supply chain resilience in the last 12 months?
Demand management
Diversification of suppliers across a broader range of countries
Improved relationships with key suppliers
Increased awareness of supply chains
Onshoring
Relocated existing sourcing to another country
Stockpiling and surge capacity
Other
Not sure
Not applicable
Which of the following actions, if any, does your business plan to take to increase supply chain resilience over the next 12 months?
Demand management
Diversification of suppliers across a broader range of countries
Improve relationships with key suppliers
Increase awareness of supply chains
Onshoring
Relocate existing sourcing to another country
Stockpiling and surge capacity
Other
Not sure
Not applicable
5. Capital expenditure
What are your business's expectations for capital expenditure between September and November 2024?
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 between September and November 2024?
For replacements
To expand capacity
To increase efficiency
To provide new services
To reach new customers
To purchase new technology
Other
Not sure
Not applicable
Which of the following, if any, do you expect to limit your business's capital expenditure between September and November 2024?
Inability to raise external finance
Inadequate return on proposed investment
Shortage of internal finance
Shortage of labour
Uncertainty about demand or business prospects
Other
Not sure
Not expecting any limits to capital expenditure
Did your business invest in plant and machinery between June and August 2024?
Yes
No
Not sure
Did your business use the full expensing capital allowance on qualifying plant and machinery investments between June and August 2024?
Yes
No
Not sure
6. Workforce management
Does your business have a probation policy in place?
Yes
No
Not sure
How long is a typical probationary period for your business?
3 months or less
4 to 6 months
7 to 9 months
10 to 12 months
More than 12 months
Not sure
How does your business plan to adapt to any future increases in employment costs?
Absorb within profit margins
Increase prices
Limit overtime hours
Reduce employee benefits
Reduce number of employees
Reduce spending on investment
Reduce spending on training
Reduce wage increases for other employees
Other
Not sure
Not applicable
Does your business employ anyone on a variable hours contract?
Yes
No
Not sure
Not applicable
Prefer not to say
7. Environment
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 net zero or greenhouse gas emissions target
Has a net zero or greenhouse gas emissions target which includes supply chain
Has a nature or biodiversity strategy
Has a nature or biodiversity target
Has a nature or biodiversity target which includes supply chain
Monitors climate-related risks
Monitors nature or biodiversity-related risks
Publishes an annual sustainability report
Other
Not sure
None of the above
Which of the following actions, if any, has your business taken to reduce 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
Not sure
No actions have been taken to reduce emissions
For which, if any, of the following effects of climate change has your business assessed risks?
Coastal erosion
Increased flooding
Supply chain disruption and distribution
Temperature increases
Water scarcity
Not sure
None of the above
Which, if any, of the following effects of climate change has your business taken action to adapt to?
Coastal erosion
Increased flooding
Supply chain disruption and distribution
Temperature increases
Water scarcity
Not sure
None of the above
Which, if any, of the following reasons have prevented your business from taking action against any of these climate change effects?
Business has been unable to take action due to costs
Business has been unable to take action due to lack of information or guidance
Business does not expect to be impacted by these effects
Other
Not sure
Business has not been prevented from taking action
Which of the following severe weather events, if any, has your business been impacted by in the last 12 months?
Flooding
Increased temperatures or heat
Storm
Water shortage or drought
Other
Not sure
Business has not been impacted by any severe weather events
How has your business been impacted by severe weather events in the last 12 months?
Disruption to global supply chains
Disruption to local supply chains
Employee absence
Weather related damage to physical infrastructure
Other
Not sure
8. Technology
Which of the following artificial intelligence technologies, if any, does your business currently use?
Autonomous vehicles
Data processing using machine learning
Image processing using machine learning
Robotics
Text generation using Large Language Models
Visual content creation
Other
Not sure
Business does not currently use artificial intelligence technologies
What does your business currently use artificial intelligence technologies for?
Develop a new product or service
Explore a new market
Improve business operations
Provide, or personalise, products or services to customers
Other
Not sure
Not applicable
How did your business adopt these artificial intelligence technologies?
Developed in-house
Outsourced to external providers or third parties
Through purchase of external software or ready-to-use
Other
Not sure
Not applicable
Which of the following artificial intelligence technologies, if any, does your business plan to adopt within the next three months?
Autonomous vehicles
Data processing using machine learning
Image processing using machine learning
Robotics
Text generation using Large Language Models
Visual content creation
Other
Not sure
Business does not plan to adopt artificial intelligence technologies in the next 3 months
What does your business plan to adopt artificial intelligence technologies for?
Develop a new product or service
Explore a new market
Improve business operations
Provide, or personalise, products or services to customers
Other
Not sure
Not applicable
In the last three months, which, if any, of the following factors have prevented or delayed your business from adopting artificial intelligence technologies?
Cost
Difficulty identifying business use cases
Employee concern about any potential impact of using artificial intelligence technologies
Level of expertise in artificial intelligence
Product or service availability
Security concerns
Uncertainty about government regulations or industry standards
Other
Not sure
Business has not attempted to use artificial intelligence technologies
Business has not been prevented or experienced delays in the adoption of artificial intelligence technologies
9. Comments
Please tell us anything else about your business's current situation relating to topics covered in this survey