From December 2013 until October 2015, the Government has run a Broadband Connection Voucher Scheme, in which SMEs could claim up to £3000 to cover the cost of installing a faster broadband connection.
The scheme has now come to an end after all of the allocated funding has been committed, proving to have been a resounding success across thousands of small and medium businesses. Figures published post-scheme show that more than 55,000 businesses, employing up to one million people across the country, have taken advantage of the funding on offer to improve their broadband connection.
Businesses were able to use their voucher with a number of different suppliers, and in fact, 86% of the funding from the scheme went to smaller suppliers around the UK such as Airband.
The Government report that was put together after the scheme found that, on average, each business that has had a new connection has been experiencing a £1,300 increase per year, with a new job being created for every four new connections. This means that for every £1 the Government has invested, over £5 will be put back into the economy.
Although the scheme has now closed, it’s not too late for businesses to improve their broadband. The benefits that small businesses experience as a result of a faster internet connection are vast, with the most obvious being the ability to access new markets, increased productivity and efficiency and better employee and customer satisfaction.
Contact us now if you’re looking for a faster connection for your business.