'Printing industry needs capital infusion, young blood'

Sanjeevi JAYASURIYA

The printing industry is highly competitive and there are large number of small players. Therefore, capital infusion to upgrade the machinery and equipment is a challenge.

"We need a collective effort to overcome this problem and we propose to set up an Association to voice our concerns and develop the printing industry.

This could act as a forum to share latest developments in the field as well as collectively undertake large scale orders which require large quantities of raw material," Imagination Strategic (Pvt) Ltd. Director Michael Perera told Daily News Business.

"The Association will be a platform to take the printing industry into the next level. As there is manpower shortage in the industry which hampers the growth prospects, drawing young blood will be advantageous," he said.

The Imagination Strategic (Pvt) Ltd which is in business for over twelve years seek a solution for the SMEs of printing industry where a cluster formation will benefit the players. It intends inviting small advertising agencies to form an association through workshops, training sessions and sharing of resources thereby increasing the creativity and competency levels which will result in better service for clients. Ninety percent of advertising in the country is handled by small agencies.

"The government's support is vital in this regard and the banking system should provide funding which is not forthcoming at present. Banks do not provide loans without properties as collateral and this is a drawback for industrial growth," he said.

"We are in to related diversification and have three companies doing business in the fields of printing, advertising, construction and landscape. With the proposed association, we expect the printing industry to be competent in handling large scale orders," Perera said.