Jersey Businesses Feel Cost Pressures but Remain Optimistic for Growth

Businesses in Jersey are facing mounting cost pressures and softer profits, but many remain cautiously optimistic about the months ahead, according to new data.

A quarterly survey by Statistics Jersey gathered responses from around 500 firms across the island, assessing economic conditions during the first three months of 2026.

The findings show that 41% of companies in the finance sector experienced rising staffing costs, while nearly half of non-finance businesses reported subdued activity alongside declining profitability.

Despite these challenges, sentiment looking forward appears more positive. Among the 290 firms that responded, many expect business activity to pick up over the next quarter across both finance and non-finance industries.

The report also highlights ongoing workforce challenges, with around half of businesses saying they are being affected by shortages of staff or key skills.

Conducted between March and early April, the survey period overlapped with the US-Iran war, which Statistics Jersey noted may have influenced how respondents viewed current conditions and future prospects.

First launched in 2009, the survey collects insights from senior leaders, including chief executives and managing directors, across Jersey’s private sector.