Insights from our President, Lee Madden, August 2025
Fostering Connections and Celebrating Success in Jersey's Business Community
The Jersey Chamber of Commerce was delighted to see so many familiar faces and a few new ones at their recent gathering, a positive sign for the Chamber and Jersey’s thriving business community. The Chamber is committed to fostering connections, sparking ideas, and supporting each other in navigating the challenges and opportunities that businesses face.
Within many sectors, particularly in the finance sector, there are challenges that require strategic planning, investment in technology and talent, and a proactive approach to regulatory compliance and sustainability. By addressing these issues head-on, the Jersey finance sector can continue to thrive and maintain its position as a leading global financial centre.
While it is important to look at the challenges ahead, it is equally important to celebrate the great work recently achieved by many in the business community:
- Cultivating regulatory adaptation.
- Building economic resilience.
- Embracing technological integration.
- Focusing on talent development.
- Creating sustainability initiatives.
There are many more positive outcomes that have been achieved, and success should be celebrated and rewarded. The question arises: do we do it enough, and if we did, what would the outcome be?
Jersey finance has maintained its competitive edge by continuously innovating and differentiating itself from other financial hubs. This has involved offering unique financial products and services that cater to the evolving needs of global clients and benefit Jersey.
While regulation is necessary, it is comforting to hear that the words of regulation are being sounded within the confines of enablement rather than restrictions. The concept of big and small R’s is emerging, with big Rs being those regulations that will be enforced and need compliance, and smaller R’s being those that can be discussed to fit the realms of business and its demand. The restrictive approach of the past may just be a thing of the past.
Recent weeks have shown that the island must collaboratively address its problems to achieve economic success for all. These issues include child care, an aging population, a significant reduction in new births, young people leaving the island, and the cost of living. There are many more issues, and they are well-documented in the press and media.
These issues affect everyone, and it is essential that business leaders have the ability and confidence to speak with the government, knowing that their opinions matter, are heard, and are acted upon in tangible actions and outcomes within agreed timeframes.
Accountability is key; the purpose of a government is to serve the liberties of its people and not to restrict them. There is hope that the future will bring positive changes.
The Chamber urges everyone to take an active role in shaping the future of Jersey's finance sector and the island. Engaging with each other, sharing ideas, and working together to find solutions is crucial. Ensuring that voices are heard by the government and that opinions are acted upon is vital.
Together, the business community can overcome challenges and maintain Jersey's position as a leading financial centre and an island with a strong economic footprint. This will demonstrate to the world how good Jersey is at attracting the best individuals and businesses while providing a home for both the young and old who want to be part of Jersey for their entire lives and for future generations.
Change and opportunities are coming in equal measure in business and government. Seizing this opportunity to make a lasting impact and secure a prosperous future for the island is essential, lets get on with it and make it happen.
