Research has revealed that the average small business in the UK loses 15 minutes of valuable work time each day as the result of poor business broadband speeds.
The research found that 57 per cent of senior decision-makers in small businesses across the UK believe that broadband is essential for efficient functioning, with one-third of those who took part in the research saying that slow speeds were causing distractions during the working day. One-third of the participants also said they believed that businesses could grow more rapidly if the broadband speeds were faster.
The research also revealed that one-quarter of the participants in the survey are making online advertising a priority within the next few months and that 23 per cent have made the same commitment to social media, using it to strengthen business development and efficiency.
The research, which was carried out by Virgin Media Business, is linked to Virgin’s announcement that the company will be providing faster services for businesses. The maximum speed that business customers could achieve was previously 152Mbps; however, the changes will see this upgraded to 300Mbps as the network is upgraded.
The MD at Virgin Media Business, Peter Kelly, said that small businesses are essential to the UK economy. The company is currently working on a £3bn expansion of its network to enable a total of 17 million premises in the UK to be reached.
There are also plans for a UK-wide Wi-Fi network to be developed in the near future.