Not out of the economic woods yet, says Chamber…
Friday 30th October 2009, 2:29PM GMT.
GUERNSEY’S economy is in for a rough ride, according to Chamber of Commerce director Barry Cash.
International businesses have pulled out because of the economic downturn and local operations face a difficult future, he warned.
Mr Cash (pictured) said the island had until now been largely sheltered from the brunt of the recession. But he added: ‘Guernsey cannot be as optimistic as the UK Prime Minister.
‘I have seen predictions that show Guernsey is in for a difficult time ahead.’
He said businesses large and small were still facing the same problems and trying to save money.
‘Every business is having to work to continue trading,’ said Mr Cash.
‘Over the last year, businesses have been ensuring they are running as efficiently as possible and trying to reduce wastage.
‘They need to be careful with every penny.’
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