Business Insights and Conditions Survey questions: 6 February to 19 February 2023

These questions are for Wave 76 of the fortnightly Business Insights and Conditions Survey (BICS) dispatched on 6 of February 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 January 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 March 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 January 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 January 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 March 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 March 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 January 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 January 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

Approximately, what does your business think the current annual CPI inflation rate is in the UK?

• Current rate of inflation (%)

• Not sure

Approximately, what does your business expect the annual CPI inflation rate will be in the UK 12 months from now?

• Expected inflation in 12 months (%)

• Not sure

Approximately, what does your business expect the annual CPI inflation rate will be in the UK three years from now?

• Expected inflation in three years (%)

• Not sure

What change, if any, has your business seen in the number of late payments from customers over the last 6 months?

• Number of late payments have increased

• Number of late payments have stayed the same

• Number of late payments have decreased

• Not sure

• Not applicable

How much of your business's input price increases have been passed on to customers over the last 6 months?

• More than 75%

• Between 50-75%

• Between 25-50%

• Less than 25%

• Business has not passed input price increases on to customers over the last 6 months

• Not sure

• Not applicable

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

Where is your business sourcing these stockpiled goods or materials from?

• UK suppliers

• EU suppliers

• Non-EU suppliers

• Not sure

Which of the following goods or materials is your business stockpiling?

• Agricultural products

• Chemicals

• Coal, gas or oil

• Food and beverages

• Manufacturing parts

• Materials

• Personal Protective Equipment (PPE)

• Pharmaceuticals

• Other consumer goods

• Other (Please describe)

• Not sure

Where are the stockpiled goods or materials being stored?

• UK

• EU countries

• Non-EU countries

• Not sure

In January 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

• Not working due to other reason

• Made permanently redundant

• Other

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

• 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 January 2023?

• Yes

• No

• Not sure

• Not applicable

How has the number of workers from within the EU at your business in January 2023 changed compared with this calendar month last year?

• Number of workers from within the EU has increased

• We employ workers from within the EU, and the number has stayed the same

• Number of workers from within the EU has decreased

• Not relevant, as have not employed workers from within the EU

• Not sure

• Prefer not to say

How has the number of workers from outside the EU at your business in January 2023 changed compared with this calendar month last year?

• Exclude those from the UK (England, Scotland, Wales and Northern Ireland)

• Number of workers from outside the EU has increased

• The business employs workers from outside the EU, and the number has stayed the same

• Number of workers from outside the EU has decreased

• Not relevant, as have not employed workers from outside the EU

• Not sure

• Prefer not to say

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?

• Publishes an annual sustainability report

• 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

• Monitors climate-related risks

• Has a nature or biodiversity strategy

• Has a nature or biodiversity target

• Has a nature or biodiversity target which includes supply chain

• Monitors nature or biodiversity-related risks

• Other (Please describe)

• Not sure

• None of the above

Which of the following actions, if any, have you taken to reduce your business's 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 (Please describe)

• Not sure

• No actions have been taken to reduce emissions

In January 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 would you describe your business's overall performance in January 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

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