The most common and most likely answer to this crossword clue is the 8 letter word SWEATERS
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More clues leading to the result SWEATERS
Buddy explains!

The straight part
We know that "Bead producers/Guernsey and Jersey" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case bead producers/guernsey and jersey = sweaters.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does SWEATERS mean?
SWEATERS noun- A knitted jacket or jersey, usually of thick wool, worn by athletes before or after exercise.
- A similar garment worn for warmth.
- One who sweats (produces sweat).
- One who or that which causes to sweat.
- A diaphoretic remedy.
- A middleman who subcontracted piece work in the tailoring trade.
- One who sweats coins, i.e. removes small portions by shaking them.
- A London street ruffian in Queen Anne's time who prodded weak passengers with his sword-point.
- To dress in a sweater.