Industry insights

New year predictions: Phil Thompson, Resource

Thompson: expect the unexpected and don’t get too carried away with yourself

The managing director of Printweek’s reigning SME of the Year has some sage-like advice for business owners, and his hope for 2025 is likely at the top of every print boss’s Christmas wish list!

What positives are you able to draw on from the experiences of 2024?
Despite external economic pressures, we were able to protect, support and reward all our staff.

What trend (business or technology) do you think has dominated 2024?
AI has been enlightening and interesting, but not the font of all knowledge as some would like you to believe!

What do you think will represent the single biggest opportunity for printers in 2025 and why?
Sadly, more business will struggle to survive and that will create opportunities for some, but often that just creates another race to the bottom commercially. However, the greater opportunity is for the industry to come together, look at how we can work together collectively, seek out and find like-minded business to collaborate with, share knowledge, ideas and yes even Resources!

What are your hopes for 2025?
A year or preferably start of a decade without a virus, economic crash, energy crisis, cost of living crisis, globalised inflation… …and a reversal of the Employers NI increase from April 2025!

What piece of advice do you wish you had been given in December 2023 to prepare you for the year you’ve just had?
Every year brings different challenges when running a business, some you can forecast, some you just never see coming. So really, it’s the same year-on-year, plan but expect the unexpected and don’t get too carried away with yourself. Stay focused and humble.

What was your word(s) or phrase of the year in 2024?
Collaboration and communication

What, if anything, will you do differently in 2025?
It’s not really different, it’s the same every year: Ensure the business remains 100% focused and doesn’t lose sight of the end goal.

What did you think of Drupa 2024?
In 30 years of being in the industry Drupa has never really been on my radar, listening to what clients want has always been my preferred method of research and development.

What’s your favourite Christmas cracker joke?
Q: What never eats Christmas dinner?
A: The turkey, it’s stuffed!
(I warned you about AI)

Sprouts, yes or no?
Yes

Are you making any New Year's resolutions? If so, what?
Yes. Go a whole day without checking my phone/email.