BICS weighted Scotland estimates: data to wave 92

Business Concerns

In Wave 92, the BICS asked businesses about their main concerns in October 2023.

Business concern question: Which of the following, if any, will be the main concern for your business in October 2023?

• 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 October 2023 were energy prices (20.1%) and inflation of goods and services prices (13.6%). Comparing to the previous month, fewer businesses are now reporting energy prices and inflation as their main concerns. Furthermore, 15.6% of businesses reported no concerns at all in the latest wave, which is the highest share in the series, which runs back to February 2022.  

Estimated share of businesses by main concern for October 2023. Businesses currently trading, with 10+ employees and a presence in Scotland. Wave 92.

Source: BICS Weighted Scotland Estimates - Wave 92 from the Scottish Government. For Figure 2 data see table ‘BusinessConcern’.