The first survey carried out by the Graphics and Print Media Alliance (GPMA) across the printing industry’s supply chain reported a resounding 65% of respondents saying 2014 would bring better results than 2013. A further 33% predict business will be about the same, with only 3% expecting a decline in sales.
Those who participated in the GPMA survey (90% of which were SMEs) also reported a positive impact of several major government initiatives, such as lowering corporation tax, increasing capital investment allowances and R&D tax credits. There was a mixed view on the impact of banks towards the industry, and three major issues were highlighted as areas of concern – pre packs, late payments and skills shortages. Interestingly, only 30% of respondents have an apprentice, yet 70% of those who didn’t have one, said they would if there was a better financial incentive.
The GPMA, set up in the middle of 2013, has been boosted by the recent addition of two new members: the European Flexographic Industry Association and the Two Sides organisation.
Commenting on the survey, Peter Kiddell, vice chairman of the GPMA, said “We were very pleased to see the high level of optimism across the printing industry supply chain but are also concerned about the issues that have a negative impact on growth. The GPMA will be active in the coming months with responses to the challenges of pre packs, late payments and skills shortages”