Survey reveals government's broadband vouchers are boosting small business' bottom line
New evidence from the government's voucher scheme shows big impacts for SMEs
Over the last two years the government has helped small businesses to cover the cost of installing faster and better broadband at their premises through ‘connection vouchers’.
More than 50,000 were released, and results from SMEs that have used them suggest that they’ve been a huge success.
Faster broadband means a £1300 a year boost in profits
The results have been unanimously positive.
The business broadband vouchers have increased profits for SMEs by an average of £1300 per year. This equates to a return on investment of £5 for every £1 spent on installing faster lines. 86% of businesses surveyed said that employees had become more effective as a result of faster broadband, while 83% reported improved efficiency.
Elsewhere, nearly 70% suggested that the government broadband vouchers had improved the speed and reliability of delivering goods and services.
Overall, as many as 1 million people are working for businesses that have benefited from connection voucher grants. And on average, broadband speeds for those businesses became 11 times faster.
Proof that faster broadband means better businesses
As the online channels of all businesses become more and more indispensable, it’s becoming increasingly vital that businesses have reliable broadband speeds.
Businesses are no longer just sending emails and surfing the web online. They’re updating their websites, uploading and downloading files, and selling their products and services. All of these tasks rely on fast broadband speeds – and in many cases, broadband speeds that are much faster than is even available through a standard ADSL connection.
Perhaps even more importantly, small businesses are increasingly conducting transactions online, and that means handling secure data and information. When it comes to processing payments, you need reliable broadband or the consequences can be severe.
Fast broadband is worth the investment for small businesses – that’s the message from the government.
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