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COVID-19 Sector Update For The Printing Industry 11 June 2020
[/cs_text][cs_element_gap _id=”5″ ][/cs_element_column][/cs_element_row][cs_element_row _id=”6″ ][cs_element_column _id=”7″ ][cs_text]The coronavirus has thrown swathes of the economy into deep freeze. Businesses have been closed. Workers have been stuck at home. Shoppers can only access necessities.
Depression or recession?
The economy has taken a major hit, and despite the most expensive bailout and support package in British economic history, the landscape is looking bleak for the future of industry, and in particular, the Print Sector. Add in the complexities of Brexit, and this equates to one massive toxic commercial challenge to face!
With that being the case, how will the Print Industry stack up, and emerge from what some analysts are predicting to be imminent financial Armageddon. That remains to be seen, as every day seems to bring about more damaging changes and fluctuating fortunes.
[/cs_text][/cs_element_column][cs_element_column _id=”9″ ][x_image type=”none” src=”https://www.thebusinessboard.co.uk/wp-content/uploads/2020/06/swatches-1183934_1920.jpg” alt=”” link=”false” href=”#” title=”” target=”” info=”none” info_place=”top” info_trigger=”hover” info_content=””][/cs_element_column][/cs_element_row][cs_element_row _id=”11″ ][cs_element_column _id=”12″ ][x_gap size=”30px”][cs_text]In the meantime, as lockdown is increasingly eased, what can you do now can you protect your interests, your company, staff, and family? How can you get through the other side of the impending challenges?
The print industry has been operating on wafer thin margins for years, and without a doubt, the recent downturn in revenue will put businesses under more pressure than ever. Unfortunately, some will go bust! There will be threats and opportunities, and this will create winners and losers. [/cs_text][/cs_element_column][/cs_element_row][cs_element_row _id=”15″ ][cs_element_column _id=”16″ ][cs_element_headline _id=”17″ ][x_gap size=”30px”][cs_icon_list][cs_icon_list_item title=”Over 50% of the print sector is operating at less than 50% capacity” type=”chevron-circle-right” icon_color=”hsl(32, 100%, 50%)” link_enabled=”false” link_url=”#” link_new_tab=”false” _label=”19 weeks: Average amount of work in the pipeline, compared to 27 weeks last year”]Over 50% of the print sector is operating at less than 50% capacity[/cs_icon_list_item][cs_icon_list_item title=”One print business owner stated that currently, 25% of his workforce are producing 50% of his previous turnover leading him to 're-think' his employment/business model” type=”chevron-circle-right” icon_color=”hsl(32, 100%, 50%)” link_enabled=”false” link_url=”#” link_new_tab=”false” _label=”£175,951: Average value of contracts, compared to £130,968 in 2018″]One print business owner stated that currently, 25% of his workforce are producing 50% of his previous turnover leading him to ‘re-think’ his employment/business model[/cs_icon_list_item][cs_icon_list_item title=”One panellist suggested the future for the sector may lie in collaborative partnerships and re-modelling / downsizing – trimming the areas of business that are less profitable and can be easily outsourced to reduce overheads” type=”chevron-circle-right” icon_color=”hsl(32, 100%, 50%)” link_enabled=”false” link_url=”#” link_new_tab=”false” _label=”17% use unsecured sources of funding (personal savings or loans from friends and family)”]One panellist suggested the future for the sector may lie in collaborative partnerships and re-modelling / downsizing – trimming the areas of business that are less profitable and can be easily outsourced to reduce overheads[/cs_icon_list_item][cs_icon_list_item title=”As a result of the pandemic, many businesses will be reviewing their operations and looking to 'pivot' or diversify their offerings thus resulting in increased investment in new machinery / presses / software and processes leading to more automation” type=”chevron-circle-right” icon_color=”hsl(32, 100%, 50%)” link_enabled=”false” link_url=”#” link_new_tab=”false” _label=”£10,641: Average amount written off in bad debt”]As a result of the pandemic, many businesses will be reviewing their operations and looking to ‘pivot’ or diversify their offerings thus resulting in increased investment in new machinery / presses / software and processes leading to more automation[/cs_icon_list_item][cs_icon_list_item title=”Phase 4 of the eased lockdown measures (i.e. full return to work for most companies) will present liquidity, confidence, and investment as the biggest challenges” type=”chevron-circle-right” icon_color=”hsl(32, 100%, 50%)” link_enabled=”false” link_url=”#” link_new_tab=”false” _label=”One in four do not always thoroughly check the contracts they are signing”]Phase 4 of the eased lockdown measures (i.e. full return to work for most companies) will present liquidity, confidence, and investment as the biggest challenges[/cs_icon_list_item][/cs_icon_list][x_gap size=”30px”][cs_element_headline _id=”26″ ][x_gap size=”30px”][cs_text _order=”0″]Don’t stand by and hope that your business will just survive. At The Business Board, our strategies will help get you through the dark days ahead. Our extensive range of business support services, from financing options that will immediately improve your cash flow, to mentoring for business improvement, including buying / selling, mergers and acquisitions.
Our team of print industry specialists have extensive business experience and can work with you to implement a range of strategies to help you get through the next few months, stabilise your business and move forward for the future.
In June, as we emerge from lockdown, we are focussing on finance options, and offering excellent rates to get you over the short-term issues of managing cashflow.
Additionally, if we can offer support and guidance with our other services, please do not hesitate to contact us.
Alex Scott
Consultant
The Business Board
If you are interested in finding out more about Print Finance Solutions, email us at: info@thebusinessboard.co.uk or call our office on 0118 338 1818.
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Confidential Enquiry
Please submit the form for a confidential, conversation with one of our team to find out more info:
Alternatively call us on:
0118 338 1818
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