Small businesses need to optimise broadband

Friday 29 January 2016

According to a new report, small businesses are losing time every day because of slow internet.

Although this is something that companies of all sizes can be affected by, the survey found that smaller firms are being hit particularly hard because of their fewer employees.

Conducted by YouGov for Virgin Media, the report found that firms of this size are losing 15 minutes every day for each employee they have working for them. This means that if a company had eight people in the organisation, a full day's work would be lost every week.

However, this is a fairly easy obstacle to overcome, as you can switch your provider and ensure your broadband isn't holding your business back. If you are thinking of setting up a small business, or looking to grow from being a sole trader, then testing the broadband speed and reliability of where you will be working can save you hassle further down the line.

The report found that more than a third of SMEs said they believed a faster internet connection would speed up their growth overall. It also highlighted the impact this can have on a business' success, with more than a quarter of respondents saying they want to increase their online advertising efforts over the next 12 months.

A similar number of small companies said they had a plan to boost their growth by using social media.

However, having a reliable and speedy internet connection can be an important part of achieving this, and sending out the right message to your clients about your brand.

Speaking about the findings, Peter Kelly, managing director at Virgin Media Business, said: “Small businesses are the lifeblood of the UK’s economy but need the right tools and technology to thrive.

"Our ultrafast broadband speeds are setting a new benchmark for business broadband and enabling businesses to reach their full digital potential by doing more, faster.”

Last year, Virgin Media Business launched a report, 'The UK's Digital Opportunity', which found that investing in digital technologies could provide a £56 billion boost to SMEs. In addition to this, it would also create more than 920,000 new jobs.

The broadband company is planning on investing more than £3 billion over the next few years to improve the infrastructure to provide faster broadband to small businesses, as well as homes.

By Victoria McDonnell

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