Businesses call for Channel Island collaboration, survey finds
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."
'Work together'
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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