Business Insights and Conditions Survey questions: 27 November to 10 December 2023

These questions are for Wave 97 of the fortnightly Business Insights and Conditions Survey (BICS) dispatched on 27 November 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 November 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 January 2024?

• 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 November 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 November 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 January 2024?

• 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 January 2024?

• 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 November 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 November 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 November 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 November 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

Which of the following, if any, will be the main concern for your business in January 2024?

• 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 November 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 November 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 January 2024?

• 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 November 2023?

• Yes

• No

• Not sure

• Not applicable

In November 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

• Business does not have any debt obligations

What is your business's risk of insolvency?

• Severe risk

• Moderate risk

• Low risk

• No risk

• Not sure

• Business is insolvent

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