Need for Speed: London’s Broadband is Killing Businesses
London leads the rest of the UK in terms of population and GDP, but an area where it is seriously lacking, is its Broadband speeds.
Over the last few years, the city has come under fire for its flailing bandwidth speeds from the news and wisening consumers.
The national average stands at around 44Mbps, according to Ofcom, while a lot of London’s boroughs see much lower speeds than that. Southwark holds the title of ‘slowest broadband speed in London’, pulling in an average of 10.4Mbps. To put this in perspective, Mumbai, the financial capital of India has an average broadband speed of 10.3Mbps. Even the City of London can’t escape, with an average of 13.4Mbps.
The benefits of a faster internet connection cannot be understated, which is why London’s broadband speeds are stifling its own local enterprise.
How Businesses Suffer from Slower Broadband Connections
Around a fifth of all UK businesses can be found in London (1.1 million as of December 2017). A majority of these figures are SMBs, who find themselves in the broadband slow lane that plagues the capital, affecting an estimated 230,000 who are unable to get adequate service.
Internet connection speeds have a direct impact on a business’s productivity and nowhere else is this more apparent than in communications. Sending files of data to co-workers can vary wildly in times, depending on the speed of your broadband. Not only are organisations running less efficiently as a result of this, but they are also losing time and money.
Many organisations now also use cloud systems to meet the demands of their substantial data storage needs. This means they must now depend on download and upload speeds to get their work done. Accessing your data and applications shouldn’t be hindered, like a machine, your organisation needs to be well oiled to keep up with the demands of the digital age.
It’s not just London, the UK itself has one of the worst average broadband speeds in Europe, in terms of its broadband speeds and reliability; coming in at 26th on the global rankings. Germany, Spain and Sweden all enjoy higher bandwidths, while Singapore comes in 1st place with a mesmerising 161.2Mbps.
The Unsure Future of London’s Broadband
Things are changing, at a glacial pace. The government’s national broadband scheme has now brought superfast broadband (24 Mbps) to 95.1% of the residential and business premises in the UK. London was sadly left behind in the dust by the initiative, as it focused its attention on the more rural areas.
The government’s Broadband Delivery UK (BDUK) project is still underway, and last December they promised to enforce broadband providers to deliver a minimum of 10Mbps to all its customers by 2020.
Here at Netstar, we’ve come across multiple internet connection problems that have troubled businesses in the past. When Regis Group PLC came to us seeking a way to increase their workplace efficiency, we found that improving their connectivity was a great way to make it happen. As part of our IT outsourcing service, we installed a centralised VoIP telephony solution, which vastly improved collaboration between staff saving the company from the bane of wasted productivity.
Finding a Solution
As we tread further and further into the digital age, it seems the government continues to be naive towards the growing demands of businesses and the consumer. The digital divide taking place in the UK can make or break certain businesses.
If you feel your internet speeds are holding you back, get in touch with Netstar today to find out how you can achieve a solution.
If you would like to benefit from a government sponsored voucher scheme offering discounts on 1GB fibre line installations, find out more here.