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Superfast broadband promotes economic growth according to research
12th November 2013 Connectivity, Matthew Cox
Research by the University of Plymouth finds that superfast broadband promotes economic growth, boosting the local economy.
The new fibre broadband network in Cornwall, connecting over 206,000 homes and businesses in the area, has actively contributed to economic growth in the area according to new independent research by the University of Plymouth.
83% of SMEs have found that, after 12 months with the service, they were saving both time and money because of the significantly faster speeds fibre broadband offers.
58% of those surveyed stated that their business is growing because of this new technology, while over a quarter (26%) have either created or safeguarded jobs due to their improved efficiencies.
In addition, 37.5% of respondents have attributed the generation of new sales to their improved internet connection – including 24% who are now acquiring new business overseas.
Cornwall’s new fibre network is available to 82% of homes and businesses – making it one of the best connected areas in the UK and the best connected rural area in Europe.
Welcome news to BDUK
This research will be welcomed by Broadband Development UK and the Department for Culture, Media and Sport. Both parties have come under fire recently about delays to the implementation of the UK’s fibre network, particularly in rural areas. This research will help support the scheme; proving that it has a notable return on investment, and an apparent benefit to the UK economy.
Find out more about fibre broadband.