BICS weighted Scotland estimates: data to wave 108

Business Concerns

In Wave 108, the BICS asked businesses about their main concerns for June 2024.

Business concern question: Which of the following, if any, will be the main concern for your business in June 2024?

• business rates
• competition with other UK businesses
• energy prices
• exchange rates
• inflation of goods and services prices
• interest rates (including mortgages)
• property rental costs
• supply chain disruption
• taxation
• falling demand of goods and services
• other
• not sure
• no concerns for my business

Figure 2: The top concerns for businesses for June 2024 were falling demand of goods and services (18.8%) and competition with other UK businesses (13.3%). An estimated 17.8% of businesses had no concerns.

Estimated share of businesses by main concern for June 2024. Businesses currently trading, with 10+ employees and a presence in Scotland. Wave 108.

Source: BICS Weighted Scotland Estimates - Wave 108 from the Scottish Government. For Figure 2 data see table ‘BusinessConcern’.

The share of businesses reporting inflation or energy prices as the main concern has fallen markedly over the last year. At this time last year, 19.7% of businesses reported inflation as their main concern – this share has now fallen to 8.2%, which is the lowest point in the series. Similarly, 27.8% of businesses reported energy prices as their main concern at this time last year – this share has now fallen to 6.8%, which again is the lowest level in the series.