Printing Industries wants the Federal Government to fund a two-year succession planning program for the printing industry.

The Association is seeking funds from the Commonwealth Government's Small Business Entrepreneurship Program - Succession Planning. 

The program would primarily target small business owners approaching retirement age and looking at ways of profitably exiting the industry. Its main objective would be to reduce the likelihood of business closure at the point of, or shortly after the business owners exit.

According to Printing Industries Manager of Industry and Commercial Policy, Hagop Tchamkertenian, the project would develop the skills of printing business owners to operate their businesses at an optimal level which would help increase business value and attract potential purchasers.

"The proposed project will establish an ongoing national program that printing business owners can access to assist them to plan and profitably manage their exit strategies from the industry," he said.

"It comprises 4 stages - briefing sessions, seminars, workshops and mentoring. It also advocates the establishment of a business succession planning hot line for members."

The deadline for funding applications closed on 31 January 2006. A decision from the government is expected by end of March 2006.