Statistics

Cost of doing business

In April 2022, businesses provided information about how business costs had changed over the previous three month period. This is the first time this question has been included in the survey.

Overall, 57% of all businesses experienced an increase in the cost of doing business, with almost a quarter (21%) reporting costs had increased to a great extent.

Medium businesses were more likely than large and small businesses to have increased costs (66% compared with 62% and 56%).

The Accommodation and food services (78%), Manufacturing and Retail trade (both 73%) industries had the greatest proportion of businesses with increased business costs over the past three months.

Changes in operating expenses

Businesses provided information on how their operating expenses had changed over the last month and expected changes for the next month.

In April 2022, 42% of businesses experienced increases in their operating expenses over the previous month compared to 27% of businesses in April 2021.

When considering the month ahead, 31% of businesses expect operating expenses to increase. The proportion of businesses reporting increases in operating expenses for the past month remains at the highest levels since the survey question was first asked in July 2020.

Changes in revenue

Businesses provided information about changes in revenue over the last month and expected changes over the next month.

In April 2022, 16% of businesses reported that revenue had decreased over the last month. This compares to almost a quarter (24%) of businesses experiencing a decrease in revenue in March 2022 but consistent with April 2021 (18%).

The proportion of businesses reporting an increase in revenue over the past month has risen to 19% compared to 13% of businesses in March 2022.

In responding, businesses were able to provide additional comments. Of those that provided comments, most reported that increased revenue was due to a general increase in business activity. Several businesses also mentioned that seasonal factors contributed to higher revenue.

Staff shortages

Businesses provided information about whether, based on current operations, they had sufficient employees. In April 2022, 18% of employing businesses did not have enough employees.

Medium businesses were more likely than large and small businesses to report staff shortages (34% compared with 31% and 17%).

For businesses with insufficient staff, 84% advised that the inability to find suitable staff was a contributing factor in April, an increase compared to January (69%).  Conversely, the impact of uncertainty due to COVID-19 on staffing levels has decreased in April (36%) compared to January (62%). This coincides with COVID-19 restrictions easing across the country.

Supply chain disruptions

A supply chain is a logistics network between a business and its suppliers to produce and distribute a product to the customer. A supply chain disruption is an interruption to that network.

Businesses were asked if they were currently experiencing any supply chain disruptions. This has been collected each month since January 2022, as well as in April 2021.

In April 2022, more than two in five (41%) businesses are experiencing supply chain disruptions. This is consistent with results in March (41%) and February 2022 (37%).  In comparison, 30% of businesses experienced supply chain disruptions in April 2021.

By industry, in April 2022, the Retail trade (84%), Accommodation and food services (67%) and Construction (54%) industries had the highest proportion of businesses experiencing supply chain disruptions.