Risky business rages in printing industry

Managers of printing businesses around Australia get some tips on staying afloat at Printing Industries workshops - Managing your firm through the global financial crisis.

The workshops, which were funded by financial support from the Federal Government’s Enterprise Connect initiative, kicked off two weeks ago in Melbourne and winds down next week in Hobart.

Presented by Stephen Mitchell (pictured), a partner at business and financial advisers, HLB Mann Judd, the four-hour workshops consisted of presentations and interactive case studies.

“Confidence is not high in the printing industry,” Mitchell said. “In the early 90s a lot of printing businesses went into liquidation or ceased trading. I suspect we will see a lot more insolvent trading.”

In short, Mitchell’s top three factors distinguishing successful print businesses from those who fail are: risk management, cash flow and making the most of opportunities.

Disturbingly, Mitchell said that based on a survey conducted by Printing Industries, 60 per cent of its members had never undertaken risk analysis; more than 5 per cent do not know what risk management is and one in three members think they understand the business risks they are facing.

“There is a lot of risk in the printing industry,” Mitchell warned.

Those in Perth and Adelaide who are interested in attending the workshops can do so by clicking here.