Businesses call for Channel Island collaboration

There are calls for greater collaboration between Jersey and Guernsey businesses, a survey suggests.

The Institute of Directors (IoD) Jersey released findings from its second economic confidence survey following input from 70 members.

The findings suggest 56% of respondents were optimistic about their own organisations but only 17% were optimistic about Jersey's overall economy. Top priorities for growth in Jersey included infrastructure investment, attracting new industries and housing affordability.

Responses found both islands faced similar economic challenges following the findings of Guernsey IOD's own survey published at the end of June, and urged political leaders to work together.

The Guernsey survey results suggested the island's business leaders had more confidence in the economy than six months before - but expectations for profits remained negative overall.

Alex Ruddy, IoD Jersey Chair, said the survey provided a "clear mandate for action".

She said: "While our members are confident in their own organisations, they are calling for bold, strategic investment and policy clarity to restore wider economic confidence.

"Collaboration across the Channel Islands, support for innovation, and a focus on infrastructure and housing are essential to Jersey's future prosperity."

Jersey respondents said they wanted to work with Guernsey for its fiscal deficit strategies by reducing public spending and driving economic growth.

Survey results found entrepreneurship and innovation could be supported through tax incentives, youth talent attraction and skills development.

It also found AI adoption was in its early stages with 70% of companies offering training and 33% having a strategy in development.

Richard Hemans, IoD Guernsey's lead on economics, said collaboration should be sought after.

"There is clear recognition from the business community in both islands that - given the same challenges apply to both islands and our economic, geographical, demographic, constitutional and fiscal profile is so similar - the best way to confront our mutual challenges is to work together more closely."

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