ONS Business Survey BICS Finds a Permanent Place

In the UK, the Office for National Statistics (ONS) has given permanent status to its Business Insights and Conditions Survey (BICS), which was introduced in 2020 as a rapid feedback tool for how companies were coping with Covid-19.

BICS Lead Analyst Gemma Rabaiotti said on the organisation's blog that after nearly four years and 100 waves of responses, the survey 'has cemented its place as a timely and vital voice on the challenges facing businesses today'. BICS originally stood for 'Business Impact of Coronavirus', and fed into policy decisions including those on the furlough scheme - but is now an acronym for Business Insights and Conditions survey.

BICS was up and running within a month of its conception, with input from across government, and will provide rapid insights into high profile and crucial policy topics, the blog says. Nearly 40,000 businesses across the UK take part and the challenges discussed are continually evolving: they currently include the recruitment and retention of staff, changes in costs and turnover, and future trading expectations. Responses are published four days after each survey closes.

Web site: www.ons.gov.uk .