The Government must make increasing basic broadband speeds an obligation in order to help SMES sustain recovery as they grow according to the FSB (Federation of Small Business).
The FSB positively received efforts by the Government to note the importance of broadband by tackling the problem of missing broadband in areas where customers and small businesses could benefit. In order to address the problem, the Government has appointed a new Broadband Minister.
However, in a new report by the FSB titled ‘Broadband: Steps for an Incoming Government’ the FSB states that SMEs are not able to trade as efficiently online as they could due to the lack of reliable and fast speed broadband and are urging the new Broadband Minister, Ed Vaizey, to put measures into place that will confront this problem.
Rural area small firms are not receiving the services they are promised by their broadband providers according to research from the FSB that shows almost 33% of all SMEs are told they will receive internet speeds of 2Mbps to 4Mbps with an incredible 94% claiming that they did not receive these speeds.
The slow broadband speed reduces the overall productivity of SMEs but reliable and fast broadband speed in the future could help SMEs strength their economic growth and business reach creating up to 60,000 new jobs and adding an additional £18b to the GDP in the UK.
In order to meet this goal, the FSB is asking that reliable and fast broadband is immediately put into place across the UK by the Broadband Minister.