Jersey Firms Upbeat About Themselves but Downbeat on Island Economy, Survey Finds

Business leaders in Jersey say they are confident about the prospects of their own organisations but remain deeply uncertain about the island’s wider economic outlook, according to a new survey published ahead of next year’s elections.

The latest poll by the Institute of Directors (IoD) Jersey, conducted between 20 November and 11 December, found that more than half of respondents expect their businesses to perform well over the coming year.

However, optimism fades when leaders look beyond their own firms. Just 17% of those surveyed said they were positive about Jersey’s overall economic prospects, while nearly two-thirds (63%) believe conditions will deteriorate.

The Government of Jersey has been approached for comment on the findings.

Respondents identified several barriers to growth, including weak economic conditions, rising labour costs, difficulties recruiting skilled workers and the burden of regulation. Uncertainty around future government investment plans was also highlighted as an ongoing source of frustration.

The IoD said the results underline the need for urgent action from the next government to restore confidence and stabilise the economy.

Alex Ruddy, representing IoD Jersey, said the survey revealed a “clear confidence gap” between how businesses view their own resilience and their expectations for the wider economy.

“While many organisations are holding up well, the persistent pessimism about Jersey’s economic environment should be treated as a warning,” he said. “As we approach the 2026 elections, policymakers need to focus on fiscal discipline, provide clarity on investment plans and ease regulatory pressures.

“Jersey’s long-term competitiveness depends on decisive action now, and we will continue to work with government and other stakeholders to ensure the business community’s concerns are heard.”