Could superfast broadband be a route to success for SMEs?

SMEs across the planet recognise the value of having a sophisticated IT infrastructure in place. Malfunctions in this particular area can be frustrating and potentially expensive, particularly for companies who are used to dealing with large volumes of a specific product.


The speed of the internet connection is a key part of this, particularly for a business which operates within the digital sector. It is also worth noting that given that a large amount of regular contact with clients now takes place over email, basic internet speed is genuinely important for the vast majority of SMEs. Any business restructuring plan which a company commits to would certainly need to put improved internet at its heart, for example.


Considering the emphasis which is now placed on internet speed, news today from the National Audit Office (NAO) that government plans to make superfast broadband widely available across UK premises has been held up is disappointing.


The NAO have estimated that the ambitious plan will eventually be rolled out almost 2 years later than initially planned.


Such a delay will be a significant blow to numerous SME start-ups in these areas. Companies of varying sizes may have been relying on the scheme’s progression in order to expand alongside it.


This delay could potentially hold up the growth of companies that could have subsequently boosted the ailing wider economy. When placed in this context, it is probably safe to assume that the government will be as frustrated by this hold-up as everyone else.


Despite the hold-up, it is genuinely exciting to consider the potential impact which superfast broadband could have for companies who are able to fully utilise it.


Better processes, improved communication with clients and a more productive working day are likely to be three of the main effects of improved broadband speed. All three of these options make you fully realise how much of a potential catalyst the technology could become.


Business restructuring specialists


A number of businesses may find themselves in a financially distressed situation in 2013 as numerous economic indicators suggest the remainder of the year could present obstacles for companies across the UK.


Seeking advice from a company insolvency specialist could make a crucial difference in terms of how your company deals with the situation, companies such as this can provide practical solutions to numerous financial problems. 

If you would like to have a free no obligation chat with one of our advisers please call us on 0207 186 1143. 

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