Amid attending holiday gatherings and family functions, many companies have also been busy planning for the New Year. Preparing for any year-to-come involves taking a step back, evaluating activities that impacted the industry, and analyzing future trends. Let’s take a peek at a few events that shaped the way we did business this year.
President Obama signed the Small Business Bill H.R. 5297, which allowed printers to take advantage of a bonus depreciation deduction program on new equipment purchased and placed in service. We heard a call from our customers to implement “Green” initiatives and obtain sustainable certifications. And most importantly—while many say the economy is making its way back—many print shops and industry publications have had to shut their doors because of lack of funding.
After looking back, the next step in the planning process involves looking forward. Analyzing upcoming trends and listening to future predictions play a vital role in developing a plan of action. In talking with other industry professionals and our customers, I believe we have the potential to see the following activities take place in the coming year:
An increase in mergers and acquisitions
While the print market continues to remain small, an increase in acquisitions will take place to expand competitive capabilities and increase the customer-base.
New business models will be formed
Gaining traction in the print market requires creating a competitive advantage. And I don’t just mean competing by price. Printers will explore the potential to enter into new markets including packaging, plastics, or other possible revenue opportunities.
Greater emphasis on efficiency
Improving processes in the press room will lead to a lower cost of production—allowing every printer to become more competitive and more profitable.
Sustainability initiatives will continue
As the demand for eco-friendly and “green” products continues to rise, many printers will see the need to adopt new business processes to reduce their overall impact on the environment. Obtaining certifications such as the Forest Stewardship Council (FSC), SGP Partnership, or Green-e will soon become required.
By understanding the implications of past events, as well as having knowledge of future trends and predictions can help pave the way to successful planning and a prosperous New Year. Do you agree? What predictions do you see for the future? I look forward to hearing your thoughts.