Tough times still ahead

Wednesday 03 December 2014

A leading Island businessman has warned that the tough economic times are far from over.

The warning came from Martin Bralsford in conversation with former Jersey Evening Post Business Editor Harry McRandle, before an audience of business people at a networking event at the Jersey Museum in November.

He said: “What we have now may well be the normal pattern. We no longer ought to be thinking that ‘we just have to get through this bit and it will all be back to plain sailing.’ It would probably be wise to address your business structure/cost base on whatever the current demand basis is, as it may well be the case that little will change in the foreseeable future.”

Mr Bralsford, runs business advisory service Marbral and is also chairman of three companies listed on the London Stock Exchange including collectibles group Stanley Gibbons. He is a highly respected Island businessmen who was formerly chief executive of the retail and motors group CI Traders.

He also said that Jersey had not saved enough in the good times of the 1980s and 1990s to reap the proper rewards of those heady days of success. As a result he said that it was now tougher to get through than it might have been.

"I am not just talking about the States of Jersey but also about the local businesses that did not invest enough when they were making strong profits," he said.

He was speaking at the first Network Jersey event, organised by Andy Ozouf, of Ozouf Marketing and Lindsay Wright.

Mr Wright said: “The event was a great success and people enjoyed the format immensely. There is already big interest in the next one, which will take place at the end of January and details of which will be posted on the website www.networkjersey.com.”