Survey reveals optimism among business leaders

Only one in eight believe their businesses will not be viable in 10 years, compared with a global average of 40%

Business leaders in the Channel Islands are more optimistic about global economic growth compared with their international counterparts, according to a survey.

Findings from PwC's Annual Global CEO Survey show about 12% of bosses believe their businesses will not be viable in 10 years, compared with a global average of 40%.

Most expect the Channel Islands' economies to improve over the next year.

A shortage of key skills and employee productivity and engagement are seen as significant threats to growth.

According to the survey:

• 66% of local leaders see a lack of skills as the biggest challenge.

• More than half plan to hire more staff in the coming year.

• 40% have performance-related pay linked to sustainability.

• A third plan to make at least one acquisition in the next three years.

The survey found while optimistic about AI's potential, leaders recognise the need to build shareholder trust before fully deploying it.

PwC Channel Islands senior partner, Nick Vermeulen, said: "The attractions of Guernsey and Jersey as dynamic, responsible, respected and stable international finance centres are arguably greater than ever".

He added: "The optimism of CI CEOs is encouraging and indicates a desire to grab our share of global growth.

"CEOs will need to be 'proactive disrupters' to reinvest their businesses and stay relevant."