Paul Mursell, managing director, Blue Printing Group
"Yes, now is a fantastic time to diversify and it has been a policy of ours for a while. Diversification is absolutely key to growing a business, but you have to have the technical ability to back it up. If you go in blind it can be very difficult, you have to take people with you. The best way we have found to diversify is through acquisition. The reason I like diversification is because areas feed each other. If you offer direct mail and stationery, a direct mail customer may turn to you for stationery. With a number of services, when you are doing well you are booming and when you are quiet you are still busy."

Luke Hastings, managing director, Reflections
"Diversification to any significant degree sounds a bit like major surgery in that it suggests something has gone terribly wrong, but we think we know how to fix it. As a trade finisher, we believe that our role has changed over time and will perhaps change even more in the future, but our core skills and business values will not need to be replaced. To diversify might suggest a fairly radical change in direction from a current business activity, but I do not believe that anything quite so extreme is called for in our business. We are, however, constantly seeking new products and new approaches to further enhance the range of finishing solutions that we can offer to our customers."

Marcus Timson, sales and marketing director, Fespa
"The people making money at the moment are the ones using technology to open up new markets and new niches. Companies are increasingly diversifying, but not necessarily by choice. The volume isn't necessarily there any more, so printers have to find extra ways to bring in business. In times of economic adversity, businesses will often experience breakthrough moments by creating new revenue streams. You can't call yourself a certain type of a printer any more, only specialising in a
single area."

George Thomas, director of printing services, Oxuniprint
"A company should always stick to what it's good at, so regardless of the current climate, a business should only ever look at diversifying its sector base if it really believes it is the right thing to do. If your customers' requirements are changing, then maybe you should look to diversify. We went into digital printing some 12 months ago after a lot of discussion and while it is a small percentage of what we do at the moment, we are looking to grow digital output to 10% next year. However, companies can diversify and lose focus of the business."