News of the prospects for the scheme, which launched last year and aims to revitalise the print industry in the four London boroughs surrounding the City, came as it revealed that it had persuaded a start-up publisher to place its magazine print contract with a local printer.

Funds for Print managing consultant Philip Cave said: “We are also working on deals with five other companies that need printing services in the area. Most of them are shocked to find there is a respected printer on their doorstep.”

Cave’s most recent success has been to persuade new publisher Ethical Publishing to place the printing of its bi-monthly Ethical Living magazine with Bow-based Leycol.

Ethical Publishing director and editor of the magazine Kim Marks said: “We use renewable energy resources, have an ethical bank and print on recycled paper with non-polluting inks.

“Wherever possible, we try to use independent suppliers to limit delivery miles.”