1. Survey information

These questions are for Wave 97 of the fortnightly Business Insights and Conditions Survey (BICS) dispatched on 27 November 2023.

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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

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3. Turnover

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

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4. Prices

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

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5. Stock levels

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

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6. Supply chains

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

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8. Business confidence

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

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9. Comments

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

  • Comments
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Contact details for this Article

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