The debate, titled 'The Investment Dilemma: Where should SME printers be planning to invest in 2011 to secure their future?', looked at the key factors that should drive invesment.

The panel included Print Research International’s managing director John Charnock, Ricoh UK’s marketing director Chas Moloney, BPFL’s Murray Booker and Precision Printing’s managing director Gary Peeling.

It found that there had been "a complete shift" in the overall criteria for investing in the past few years, with the focus moving to client-facing services as well as cutting turnaround times on jobs.

Investment and finance
Printers were advised to invest only after they had looked into their customers' needs, researched the area they are looking to invest in, and found the territories they are looking to attract.

Charnock said: "Printers must buy presses out of need rather than ego. You have to study and understand why as a company you’re making that investment. Unless you have, you shouldn't be investing."

Moloney added that companies should ask for support from suppliers and manufacturers, and consider what the return on investment would be.

The credit crunch has played a role in delaying investment decisions by making it much harder for printers to get financial support.

According to Moloney, securing finance remains a real problem and is also very time-consuming for many SME printers.

Booker agreed it was getting "harder and harder to get finance", and that there were fewer lenders. "They are fussy, but there is finance out there. Printers should try to negotiate," he added.

Skills and partnerships
Printers were advised not just to focus on technology but to look at all their assets, including people and services, and identify where investment was most needed.

Moloney said: "Bringing new skills in is absolutely key. Companies should look at how to sweat their assets, people and technology. That’s the first thing to ask."

Precision's Peeling added that companies should also work with suppliers or third parties more and look to grow through collaboration.

"Printers should be using the internet to share resources – this allows for interaction between a group of SME’s," he said.

"As an industry, we need to collaborate better. We need to link up these resources."

Moloney added: "Companies need to fulfil their customers' needs profitably. Talk to your customers and potential customers and ask them what they need, whether it’s technology, people or service."

Charnock said: "You have to be adaptive and prepared for change. Print is no different from being a pub landlord, you have to be entrepreneurial.

"You can’t survive if you just sit there, you have to start thinking in a different way. Use your partnerships with clients. The companies that offer value survive."