Succession planning and exit strategies

The historic meeting is part of an initiative to develop the future direction of the printing industry and to ensure that the industry continues to benefit from the country’s present economic momentum over the next 10 years.

Printing Industries CEO, Philip Andersen, was among a select group of 20 manufacturing industry representatives invited to attend the meeting with Australian Industry Minister, Ian Macfarlane.

Andersen says, the print, packaging and visual communication industries, face many challenges in their transition from craft-based vendors to communications solutions service providers. He says proper business planning models will encourage a better transition for businesses in a rapidly changing industry.

“We have an ageing business owner demographic profile and ongoing industry rationalisation. Both would benefit from government sponsored succession planning encouraging an orderly transfer of ownership and industry rationalisation for those seeking those options,” he says.

“This would need to be supported by an Industry adjustment package geared to helping printing companies either exit the industry or adopt new technologies and business models,” he adds.

Andersen says the need for government support was identified in the Australian Government backed Print21 Action Agenda more than five years ago – a document that still remains ‘a work in progress’ with a number of recommendations not yet implemented due to funding constraints

“FTA partners must face similar regulatory frameworks as those faced by local industry,” he says.

“This is an area where Australian industry can establish a competitive advantage. Environmental Accreditation needs government support to enable business to undertake programs such as the Printing Industry Environmental Principles,” says Andersen.

Also discussed at the meeting, was proposed development of supply chain programs, export grants, Austrade services to help identify commercial opportunities, expanded research programs and research and development funding for industry, as well as regulatory reform and sectoral assistance since, generic government programs are inadequate.

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