1. Survey information

These questions are for Wave 93 of the fortnightly Business Insights and Conditions Survey (BICS) dispatched on 2 October 2023.

Back to table of contents

2. 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

Back to table of contents

3. Turnover

How did your business's turnover in September 2023 compare with the previous calendar month? 

  • Turnover increased 

  • Turnover stayed the same 

  • Turnover decreased 

  • Not sure 

Which of the following challenges, if any, are 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 (Please describe) 

  • Not sure 

  • Not currently experiencing any challenges 

What are your business's expectations for turnover in November 2023? 

  • Expect turnover to increase 

  • Expect turnover to stay the same 

  • Expect turnover to decrease 

  • Not sure

Back to table of contents

4. Prices

How did the prices of goods or services bought by your business in September 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 September 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 November 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 November 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 September 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 September 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

Back to table of contents

5. Stock levels

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

What are your business's expectations for capital expenditure between October and December 2023? 

  • Capital expenditure will increase 

  • Capital expenditure will decrease 

  • Capital expenditure will stay the same 

  • Not sure 

  • Not applicable 

Why is your business expecting to authorise capital expenditure in November 2023? 

  • For replacements 

  • To expand capacity 

  • To increase efficiency 

  • To provide new services 

  • To reach new customers 

  • To use new technology 

  • Other (Please describe) 

  • Not sure 

  • Not applicable 

Which of the following, if any, do you expect to limit your business's capital expenditure in November 2023? 

  • Inability to raise external finance 

  • Inadequate return on proposed investment 

  • Shortage of internal finance 

  • Shortage of labour 

  • Uncertainty about demand or business prospects 

  • Other (Please describe) 

  • Not sure 

  • Not expecting any limits to capital expenditure 

Did your business scrap any capital assets earlier than intended in September 2023? 

  • Yes 

  • No  

  • Not sure 

  • Not applicable 

Please explain in more detail what type of assets your business scrapped early and why 

  • Comments 

Did your business invest in plant and machinery between July and September 2023? 

  • Yes 

  • No  

  • Not sure 

Did your business use the full expensing capital allowance on qualifying plant and machinery investments between July and September 2023? 

  • Yes 

  • No 

  • Not sure

Back to table of contents

7. Business confidence

In September 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 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 

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

Back to table of contents

8. Comments

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

  • Comments
Back to table of contents

Contact details for this Article

Gemma Rabaiotti
bics@ons.gov.uk
Telephone: +44 1633 455 592