The support that businessmen and business organisations displayed for the peace processes in Israel and Northern Ireland was open and vocal, underscoring the supposed linkage between globalisation, peace and economic growth, and the supposed leadership role of business. The purpose of this study is to examine the motivations of the business communities in Israel and Northern Ireland in becoming involved in the peace processes, their organisation to promote peace, decision-making processes at critical junctures, and their actual impact on the political outcomes. Study of the business communities demonstrates that their empowerment enabled them to exert political influence but fell short of hegemony that would enable them to set the wider political agenda. The impact of both business communities, for different reasons, was therefore limited.