SMEs estimate they could lose more than £10,000 per year due to connectivity issues. Westminster borough works with leading providers to offer local SMEs ultrafast connections, aiding business growth.
The recent London Assembly report, Digital Connectivity in London, states that “London’s economic productivity and international competitiveness face a significant threat in the form of poor digital connectivity”. M24Seven research shows 1 in 10 small businesses don’t have the level of connectivity required to run their business as productively as they’d like and over half of small businesses have had connectivity frustrations over the past month. This demonstrates a critical need for the scheme as the council looks to increase the provision of cost–effective ultrafast broadband. This is the second time that M24Seven (formally Venus Business Communications) has participated as one of the top five providers in the scheme.
Neil Rampe, London Managing Director of M24Seven London comments, “Many SMEs are operating at a disadvantage in London, with 82% of SMEs believing that improved connectivity would enhance business performance. The Connect Westminster initiative is a fantastic opportunity for those businesses to receive those services at even better value, so that they can contribute even more the local and national economy.”
Elizabeth Crowther-Hunt, Chief Executive of Westminster Business Council says, “This funding is critical for Westminster businesses to grow and continue to drive the UK economy competing on a national and international level. Through the scheme, companies such as M24Seven will give SMEs the connectivity required to compete in today’s fast paced business environment.”