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Riding the rollercoaster


A


S Zef Eisenberg says in this issue’s main interview: “It’s easier to start a business now than it has ever been… though


setting up a sustainable and successful business is a totally different kettle of fish.” Some might argue that running a business today is, in fact, harder than it’s ever been – not least because we’re still feeling the aftershocks of the financial crisis. In the last few months global stock markets have seesawed wildly; changes in US legislation could significantly affect UK and Channel Island financial firms; and the recently published Vickers Report could, in the long term, change the way banks operate. It’s created an atmosphere of uncertainty


that runs through every area of business, with large companies seeing millions – even billions – wiped off their value, right down to small firms who can’t be sure they’ll secure funding or meet all their obligations. Amid all this, however, there’s still a need


21632_FPB_Fine Art Mona_BusLife_Layout 1 06/07/2011 13:44 Page 1


to try to keep moving forward, even if it is swan-like – all poise above the surface, but


Stock market turmoil, new legislative challenges, the search for new business… it’s been quite an ‘interesting’ couple of months


paddling furiously beneath – and in this issue we focus on two very different areas that have seen developments in recent months. In Guernsey, we examine the introduction of Foundations, and their potential to draw in business from all over the world. Meanwhile in Jersey, we look at a new relationship with UK Israel Business that could see the island diversifying into whole new areas. And, for a change, it’s not all bad news


on the legislative front. An amendment to the Alternative Investment Fund Managers Directive looks as if it is going to help sustain the venture-capital funds industry. It feels as if this summer has absolutely


flown by, and we’re already watching the nights drawing in. That said, one thing seems to be certain – with everything moving as fast as it is at the moment, we can be sure that there will be plenty more to keep on top of before we welcome in the New Year. But for now, happy reading! l


Kirsten Higgins, Publisher Nick Kirby, Editor-in-Chief


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distinctly different October/November 2011 businesslife.co 3


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