As a business that preaches the value of a fast and robust internet connection, it's great to see the benefits that the Broadband Voucher Scheme has brought to businesses in the UK.
The key findings from the voucher scheme were:
• 42,500 small firms were able to substantially improve their internet connection; on average new services were 18 times faster
• The UK benefitted by at least £8 for every £1 spent
• One in four firms employed an extra full time member of staff and each made an average of £1,300 more profit per annum, through being more efficient and effective, and providing more reliable and faster delivery of goods and services
• Over 6,000 firms pooled their voucher with others in group schemes to get ultrafast connections at guaranteed speeds in areas previously prohibitively expensive and at reduced ongoing costs
• The scheme encouraged competition and consumer choice with 87% of funding going to smaller suppliers providing specialised services, only 13% of the funding went to the top 3 of BT, Virgin and TalkTalk
More than 40,000 small and medium sized businesses received a faster connection as a direct result of the scheme. The study examines the benefits and impacts of those faster connections on key issues such as turnover and employment.