Business Insights and Conditions Survey questions: 31 October to 13 November 2022

These questions are for Wave 69 of the fortnightly Business Insights and Conditions Survey (BICS) dispatched on the 31st of October 2022. 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

Where in the UK are your sites temporarily or permanently closed, if any?

• Northern Ireland
• Scotland
• Wales
• East of England
• East Midlands
• Greater London
• North East of England
• North West of England
• South East of England
• South West of England
• West Midlands
• Yorkshire and The Humber
• Not sure
• Do not have any sites
• None of our sites are temporarily or permanently closed

How did your business's turnover in October 2022 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 December 2022?

• 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 October 2022 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 October 2022 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 December 2022?

• 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 December 2022?

• Energy prices
• Finance costs
• Labour costs
• Raw material prices
• Other
• Not sure
• Business is not considering raising prices

To what extent has your business already passed through higher costs to prices?

• More than 75%
• Between 50-74%
• Between 25-49%
• Less than 24%
• Not sure
• Business has not passed through any higher costs

How did your business's domestic demand for goods and services in October 2022 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 October 2022 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
• Not sure
• The business has not been affected by price rises

What price per kWh does your business expect to pay for gas from 1 April 2023?

• Less than 1p per kWh
• 1p to 5p per kWh
• 6p to 10p per kWh
• 11p to 15p per kWh
• 16p to 20p per kWh
• 21p to 25p per kWh
• 26p to 30p per kWh
• More than 30p per kWh
• The business expects to pay market prices
• The business does not directly pay gas bills
• The business does not have a gas supply
• Not sure

When does your business expect the gas contract to end?

• April 2023 to June 2023
• July 2023 to September 2023
• October 2023 to December 2023
• After December 2023
• The business has a variable price energy contract
• The business does not directly pay gas bills
• Not sure

What price per kWh does your business expect to pay for electricity from 1 April 2023?

• Less than 11p per kWh
• 11p to 20p per kWh
• 21p to 30p per kWh
• 31p to 40p per kWh
• 41p to 50p per kWh
• 51p to 60p per kWh
• 61p to 70p per kWh
• More than 70p per kWh
• The business expects to pay market prices
• The business does not directly pay electricity bills
• Not sure

When does your business expect the electricity contract to end?

• April 2023 to June 2023
• July 2023 to September 2023
• October 2023 to December 2023
• After December 2023
• The business has a variable price energy contract
• The business does not directly pay electricity bills
• Not sure

How did your business's stock levels of raw materials in October 2022 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 October 2022 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
• Not sure

Where are the stockpiled goods or materials being stored?

• UK
• EU countries
• Non-EU countries
• Not sure

In October 2022, approximately what percentage of your business's workforce were:

• Using a hybrid model of working
• Working from home
• Working from a designated workspace
• On sick leave, or not working due to coronavirus (COVID-19) symptoms or self-isolation
• Made permanently redundant
• Other

How did the number of employees at your business in October 2022 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 December 2022?

• Number of employees will increase
• Number of employees will stay the same
• Number of employees will decrease
• Not sure

Is your business using, or intending to use, increased homeworking as a permanent business model going forward?

• Yes
• No
• Not sure
• Not applicable

Why is your business using, or intending to use, increased homeworking as a permanent business model going forward?

• Ability to better match jobs to skills
• Ability to recruit from a wider geographical pool in the UK
• Ability to recruit from a wider geographical pool internationally
• Improved staff well-being
• Increased productivity
• Reduced carbon emissions
• Reduced overheads
• Reduced sickness absence
• Reduced wage bill
• Other
• Not sure

Why is your business not intending to use increased homeworking as a permanent business model going forward?

• Concerns with integrating new starters into the workplace
• Costs of employee equipment
• Difficulties managing staff remotely
• Negative impact on working culture
• Not suitable for our business
• Reduced communication
• Reduced productivity
• Reduced reliability and retention of staff
• Security concerns
• Other
• Not sure

Which, if any, of the following skills has your business had a high demand for in the last 12 months?

• Advanced digital skills
• Basic digital skills
• Customer service skills
• Management or leadership skills
• Manual skills
• Transferable skills
• Other
• None of the above

Which, if any, of the following skills does your workforce require extra support or training in?

• Advanced digital skills
• Basic digital skills
• Customer service skills
• Management or leadership skills
• Manual skills
• Transferable skills
• Other
• None of the above

Did your business experience any difficulties recruiting employees in October 2022?

• Yes
• No
• Not sure
• Not applicable

In October 2022, 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 October 2022, 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

How much confidence does your business have that it will survive the next three months?

• High confidence
• Moderate confidence
• Low confidence
• No confidence
• Not sure

Please tell us anything else about your business's current situation relating to topics covered in this survey

• Comments