Jersey Business will be engaging with hundreds of employers and companies this year, aiming to enhance their efficiency and productivity.
Publishing its 2025 Business Plan, the organisation, which provides independent, confidential advice and support to businesses in Jersey, is aiming to increase its individual support to island businesses by more than 50% this year.
In 2024, the team supported local companies on their Business Improvement Programme to save an average of £40,000, and it more than doubled the number that increased their profits by improving efficiency.
This year, Jersey Business will put more focus on supporting start-ups, delivering a business growth and change programme, continue its financial literacy programme and deliver a Business Improvement Programme. These initiatives will help businesses identify efficiencies, achieve significant savings, improve management and financial skills, and bolster the resilience of businesses across the economy.
Jersey Business will also be delivering the Government’s Better Business Support Package (BBSP) and Agricultural Loans Fund, supporting initiatives to develop the rural economy, visitor economy and retail sector. The BBSP is due to launch in March and businesses are already able to check whether they can apply for funding using the eligibility tracker.
Paul Murphy (pictured), CEO of Jersey Business, said: “2024 was a time for us to focus much harder on fewer areas, improve our own efficiency and generate a greater return on the investment we receive from the Government of Jersey. Our data showed that we helped more businesses, but not only that, it shows that the engagement we had with industry was more targeted and effective.
“All the 135 business leaders who attended or had access to our programmes said that their business had grown or was more resilient. We will continue that work in 2025 while also unlocking the potential for increased productivity and growth through delivering the Better Business Support Package and Agricultural Loans. These will provide brilliant opportunities for eligible businesses that apply for support and will also help those who supply services and support to grow, boosting the overall performance of our economy.”
