But the Island’s financial services sector is considerably more optimistic about the future than retail, tourism or construction, according to a survey.
More firms in the finance sector reported an improvement in business performance last year and fewer say their costs have increased over that period.
The results of the Jersey Chamber of Commerce quarterly business trends survey show that, of those who responded, 82% of firms in the finance and related services sector were more confident in the prospects for their business over the next 12 months than at this time last year, compared to 38% in retail and distribution and 36% in tourism.
In fact, over half (56%) of respondents from the retail sector said they were slightly pessimistic or pessimistic about their prospects in the coming year.
Three-quarters of the Chamber members said the overall costs of running their business had increased in the past 12 months, although the response was slightly lower for financial services firms (66%) and highest for retail (85%) and tourism (86%).