Companies losing £7.8 million in productivity, according to a new report from the Centre for Economics and Business Research
London SMEs lose more than 50,000 working days each year waiting for broadband services to be installed at their premises.
These lost days result in £7.8 million-worth of productivity being wasted, according to startling new findings from the Centre for Economics and Business Research (CEBR).
The report was commissioned by new Central London internet service provider Relish, which offers 24-hour installation for its landline-free, plug-and-play broadband service, using 4G connectivity to provide “fibre-like” speeds, unlimited data and no minimum term contracts.
Broadband speeds are slowest in Central London, with average speeds in the City of London topping out at just 11.9Mbps. The secondslowest speeds were recorded in London’s tech hub around Old Street in East London.
The figures also revealed that £37 million was wasted on landlines each year in the capital and that almost two thirds (62 per cent) of SMEs surveyed said they could run their business without a fixed line.
“SMEs play a crucial role in shaping the future of the capital and fast broadband in London should be available for all. We have created a portfolio of services that fulfills the demands of Central London businesses which are shaping the future of London,” said Relish chief executive Nick James.
The Broadband Delivery UK scheme has been hailed by the government as a major success in bringing fibre-fast coverage to a number of areas which previously never had access to the connectivity. However, the scheme has not been without its critics, with James prime amongst them.