BIS Trust & Transparency Survey 2013
In August 2013, IFF was commissioned by the Department of Business, Innovation and Skills (BIS) to conduct a quantitative study. This was part of the BIS assessment of the financial impact that proposed new business ownership regulation would have on UK business.
How did IFF illuminate the facts with research?
A total of 574 interviews were conducted via IFF’s own telephone centre. The companies surveyed were purposively selected from Bureau van Dijk’s FAME database of enterprises in the UK to include a spectrum of company size and ownership complexity.
IFF was able to provide BIS with comprehensive data on the time and costs involved in meeting the new regulations. We measured this using a three-stage approach to each element, to ensure all costs (internal and external) were included in the answers given.
Survey respondents were asked to estimate the number of senior and middle management staff (plus admin teams) that would be involved in the activity under consideration, followed by the average number of hours per person at each level that would be required.
Internal time costs were then modelled using the national average hourly wage for each level of staff. Respondents were also asked to detail any other costs, e.g. new IT systems or external consultants, that they would incur in undertaking the activity being considered.