BICS weighted Scotland estimates: data to wave 95

Business Concerns

In Wave 95, the BICS asked businesses about their main concerns in December 2023.

Business concern question: Which of the following, if any, will be the main concern for your business in December 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 6:  The top concerns for businesses for December 2023 were energy prices (16.1%), falling demand (15.6%) and inflation of goods and services prices (9.2%).

Estimated share of businesses by main concern for December 2023. Businesses currently trading, with 10+ employees and a presence in Scotland. Wave 95.

Source: BICS Weighted Scotland Estimates - Wave 95 from the Scottish Government. For Figure 6 data see table ‘BusinessConcern’.

In the latest period, an estimated 16.1% of businesses reported that energy prices were their main concern for December 2023 and 9.2% of businesses reported inflation of goods and services prices – these are the lowest rates for these concerns since the time series began in February 2022.  An estimated 20.2% of businesses reported having no concerns in Wave 95 - the highest rate in the time series.