1. Survey information

These questions are for Wave 74 of the fortnightly Business Insights and Conditions Survey (BICS) dispatched on the 9th of January 2023. These are the most up-to-date survey questions.

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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 December 2022 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 (please describe)
  • Not sure
  • Not currently experiencing any challenges

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

  • 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 December 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 December 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 February 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 February 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 December 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 December 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 (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
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5. Stock levels

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

What are your business's expectations for capital expenditure over the next three months?

  • Capital expenditure will increase
  • Capital expenditure will stay the same
  • Capital expenditure will decrease
  • Not sure
  • Not applicable

Why is your business expecting to authorise capital expenditure in February 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 February 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 December 2022?

  • Yes
  • No
  • Not sure
  • Not applicable

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

  • Comments
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7. Business concerns

In December 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 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 December 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
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8. 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 455592