Chamber boss surprised to read Alderney finance and construction has shrunk

The statistics from the Alderney Annual Employment Bulletin showed that employment within financial and insurance industries fell by more than a sixth, from 96 to 81 people, between March 2023 to March 2024.

Employment in construction fell by more than 10% to 110 workers during the same period.

Andrew Eggleston, the president of the Chamber of Commerce, speculated that the bulletin’s figures may have been blurred by the small sample size.

‘If I hadn’t seen the figures, I would not have believed them,’ he said.

‘The finance sector appears to be on a level and construction is superb.

‘It is impossible to get a builder or tradesman here as they are all working flat out, with lots of work in the pipeline.

‘I can’t honestly think of anyone within the construction industry who has left the island recently.’

He added that although accountant PwC had shut its office on the island, with employees working remotely, the Forte Group had recently committed to the island by buying a property rather than just renting.

Mr Eggleston said Chamber was looking to diversify the types of business on the island.

‘We need individuals and businesses to know how easy it is to set up or relocate here,’ he said.

‘The States of Alderney has been saying it will look to produce advice to help businesses and individuals relocate but we have

been waiting 18 months for that and it hasn’t happened.

‘So we now have set up our own relocation advice for businesses on the Chamber of Commerce website.’

Mr Eggleston, who is also managing director of the island’s largest estate agent, Bell & Co, said the property market was always a good place to judge how the economy was performing.

‘This year has been really good in terms of sales, and we have been selling to more prime owners than secondary home owners.

‘We have also had a number of young families with children relocating here, which is always good news.’