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Tuesday | November 24, 2020
UK Broadband Speeds Hit New Low – How Will Businesses Be Affected?

UK Broadband Speeds Hit New Low – How Will Businesses Be Affected?

The UK has dropped thirteen places in an annual study of broadband speeds released recently. According to theguardian.com, Britain is now 47th fastest out of a total of 221 nations, behind the likes of Spain, Germany and France.

This means that smaller countries such as Malta and Romania now have quicker broadband speeds on average. To put it into perspective, 80% of the households in the countries listed can claim access to full-fibre broadband, whereas it’s only 10% in the UK.

Aside from ordinary residents, it’s vital to consider the impact internet speeds have on the economy, particularly British businesses, because, as technology advances, enterprises must be in a position to take advantage for the sake of Britain as a whole.

 

Broadband & Reliability

The link between growth and reliability is undeniable. Without an element of trust, there’s no way for companies in Britain to encourage customers to return and keep spending money. When the user experience is low, it’s easy for consumers to bounce to competitor brands, giving international rivals the chance to soak up a bigger market share. The controversy surrounding Arm Holdings’ sale to Nvidia in the US is a prime example.

Unfortunately, ispreview.co.uk points out that 32% of small businesses have been unable to interact or interact with new and existing customers due to a connectivity issue. An additional 31% state outright that poor broadband infrastructure stops them from growing and expanding. If the tools don’t become more efficient, it could lead to UK companies falling behind on a global scale.

 

Broadhand

Source: Unsplash

 

Broadband & Mobile

One of the reasons an internet connection is vital to organisations of all sizes is the fact it makes products and services accessible. However, as Britain’s broadband infrastructure begins to plateau, it leaves businesses seeking alternative options, the most popular of which are 4G and 5G.

Techcrunch.com already notes that 5G offers a more affordable, super-fast connection to homes and businesses in the UK, with companies around the world taking advantage due to the added flexibility. For example, Bonus.ca proves this beyond doubt by highlighting how the online casino industry has recently concentrated on mobile-centric products and services, allowing them to appeal to a wider audience. As a result, the sector has grown exponentially and is expected to maintain this growth in the coming years.

British businesses may need to follow suit by focusing on mobile technology in the future, and the advances made in mobile technology with 4G and 5G have benefited industries such as online casinos. These advancements have allowed for live-streaming services, and better-integrated customer support. It is clear that if Britain doesn’t keep up then this could cause the UK’s ranking to slip even further.

 

Broadhand

Source: Unsplash

 

The Future of UK Broadband

Of course, it’s not doom and gloom. Europe has the second-best penetration rate, for example, and statista.com reports access has grown by 30% from 2007. However, it’s the untapped potential that could harm UK establishments on a global scale.

The good news is, the Prime Minister has already addressed concerns by making it a top priority. In a bid to create a high-speed network that the country can be proud of, £5bn has already been invested in enhancing fibre and other super-fast technology by 2025. For businesses, this is a healthy sign as it will give them the necessary tools to remain the heartbeat of the nation.

Countries around the world are showing why dropping down the list of average broadband speeds needs solving. However, if the PM’s words are more than bluster, it should happen within five years.

About Author

Brian Joyce

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