The conference is taking place to encourage skills and training and encourage more entrepreneurs.

Under the island's strategic plan politicians have pledged to deliver 2% economic growth from 2005 to 2009.

But there are concerns businesses will have to look outside Jersey for more workers if people in the island cannot be trained with the right skills.

Financial decline

The conference will consider the island's economic strategy with the help of leading advisors.

The meeting was organised after business leaders released figures in September that showed there had been a decline in the economy.

The amount of economic activity on the island up to the end of 2003 was down by 2% compared to 2000, according to the figures.

The drop was blamed on a reduction in the size of the finance industry.