1. Survey information
These questions are for Wave 110 of the fortnightly Business Insights and Conditions Survey (BICS) dispatched on 3 June 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. Turnover
How did your business's turnover in May 2024 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
Not sure
Not currently experiencing any challenges
What are your business's expectations for turnover in July 2024?
Expect turnover to increase
Expect turnover to stay the same
Expect turnover to decrease
Not sure
How did your business's domestic demand for goods and services in May 2024 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 May 2024 compare with the previous calendar month?
Demand increased
Demand stayed the same
Demand decreased
Not sure
Not applicable
4. Prices
How did the prices of goods or services bought by your business in May 2024 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 May 2024 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 July 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 July 2024?
Energy prices
Finance costs
Labour costs
Raw material prices
Transportation or haulage costs
Other
Not sure
Business is not considering raising prices
5. Supply chains
Was your business able to get the materials, goods or services it needed from within the UK in May 2024?
Yes, the business was able to get the materials, goods or services it needed
Yes, but the business had to change suppliers or find alternative solutions
No, the business was not able to get the materials, goods or services needed
Not applicable
Did your business experience any global supply chain disruption in May 2024?
Yes
No
Not sure
Not applicable
What was the main reason for global supply chain disruption?
Conflict in Ukraine
Conflict in the Middle East
Coronavirus (COVID-19) pandemic
Increased costs
Severe weather or climate event
Shortage of hauliers and carriers
Shortage of materials
UK exiting the EU
Other transportation issues
Other
Not sure
6. Trade
Did your business export or import any goods or services in May 2024?
Both exported and imported
Exported only
Imported only
Business did not export or import
Not sure
Did your business experience an increase in any of the following exporting challenges in May 2024, compared with the previous calendar month?
Additional paperwork
Change in exchange rates
Change in transportation costs
Customs duties or levies
Destination countries changing their border restrictions
Disruption at UK borders
Difficulty finding information on how to export
Lack of hauliers to transport goods or lack of logistics equipment
Reduced demand for products and services
Time taken for checks at the border
Work permit or visa restrictions, or lack of mutual recognition of professional qualification
Other
Did not experience an increase in any exporting challenges
Did your business experience an increase in any of the following importing challenges in May 2024, compared with the previous calendar month?
Additional paperwork
Change in exchange rates
Change in transportation costs
Customs duties or levies
Disruption at UK borders
Difficulty finding information on how to import
Lack of hauliers to transport goods or lack of logistics equipment
Suppliers not customs ready
Time taken for checks at the border
Other
Did not experience an increase in any importing challenges
7. Workforce trends
What are your business's expectations for the number of employees in July 2024?
Number of employees will increase
Number of employees will stay the same
Number of employees will decrease
Not sure
Is your business currently experiencing a shortage of workers?
Yes
No
Not sure
Not applicable
Did your business experience any difficulties recruiting employees in May 2024?
Yes
No
Not sure
Not applicable
8. Business operations
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
What is your business's risk of insolvency?
Severe risk
Moderate risk
Low risk
No risk
Not sure
The business is insolvent
Which of the following, if any, will be the main concern for your business in July 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
Not sure
No concerns for the business
How would you describe your business's overall performance in May 2024, 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
9. Comments
Please tell us anything else about your business's current situation relating to topics covered in this survey