ADVANCES in technology are helping islanders to start up their own businesses. NatWest manager Jason Le Ray said that with lower start-up costs and fewer risks, there had never been a better time for entrepreneurs to realise their ideas.

‘A lot more Guernsey people start up in business from home because it is easier, cheaper since there is no need for business premises, and lower-risk,’ he said.

‘Technology has allowed this, with the improvements in computers and the availability of broadband making a significant difference to would-be entrepreneurs.’

He cited the example of starting a business by selling on eBay with minimal running costs.

‘It is becoming easier and easier to start out in this way. You can test the water with very little risk and perhaps start part-time alongside your full-time job.’

The bank sponsored the small business category in last night’s Awards for Achievement.

‘The number of entries this year has broken all previous records and I believe that this is another indicator that this economic sector is vibrant, expanding and providing an increasingly important area of diversification away from the finance industry,’ he said.

Mr Le Ray added that the three shortlisted companies – Island Rib Voyages, Spike Productions and Submarine – were each very deserving of the accolade.

‘To reach the final three out of so many great entries was a fantastic achievement and they should all be very proud.’

Mr Le Ray was aware of staff in the finance sector who were seeking a change of direction and had been setting up small businesses.

‘This is good news for the economy as it provides much needed diversification.’

The bank’s Streamline arm is registering this increased activity and is busier than ever, helping businesses accept payments for goods and services over the web.