PRESS RELEASE

23 January 2016

SLOW INTERNET REVEALED AS SMALL BUSINESSES' BIGGEST TIME-WASTER

Slow internet speed has emerged as small businesses’ biggest time-waster, according to a new study commissioned by Virgin Media Business. The findings also reveal that senior decision makers in SMEs think the average employee loses 15 minutes a day to slow internet speeds, meaning that a business with eight employees could lose a full day of work each week, waiting for their connection to catch up*.

  • Research finds each SME employee loses 15 minutes every day to slow broadband connections
  • Virgin Media Business today launches 300Mbps – the UK’s fastest, widely available broadband speed for small businesses

The online research, conducted by YouGov with 1,103 senior decision makers in British SMEs, marks the launch of Virgin Media Business’s new, ultrafast broadband packages including a 300Mbps product that’s almost four times faster than its competitors.

The research shows 57% of SMEs believe that the internet is critical to their business and that they wouldn’t be able to function without it. However, poor connections are becoming detrimental to their daily operations.

Faster speeds can provide small businesses with a significant online boost – opening then up to new technologies and allowing greater productivity. Virgin Media Business’ new ultrafast broadband packages can help businesses get more from their internet connection, offering speeds of up to 50Mbps, 100Mbps, 200Mbps and 300Mbps.

When small businesses were asked what they would do if they could complete their daily tasks more quickly, the top three responses were spending more quality time with family (40%), having dinner with their partner (30%) and going to the gym or playing sport (30%).

Other findings from the research include:

  • Slow internet speeds tied with customer service queries as the biggest distractions from senior decision makers’ main tasks at work (33%)
  • Over a third of small and medium sized businesses (34%) think a faster internet connection would accelerate their growth overall
  • Online activities are high on the strategic agenda for 2016, with a quarter prioritising online advertising and 23% prioritising building their social media presence in order for their company to grow over the next 12 months

“Small businesses are the lifeblood of the UK’s economy but need the right tools and technology to thrive. Our ultrafast broadband speeds are setting a new benchmark for business broadband & enabling businesses to reach their full digital potential.”

 
 

In October, Virgin Media Business launched a report, 'The UK's Digital Opportunity', which revealed digital technologies could provide a £56 billion boost to SMEs, as well as creating over 920,000 new jobs.

Over the coming years Virgin Media is investing £3 billion in its infrastructure to bring the fastest broadband to nearly 17 million UK homes and businesses.

- ENDS -

Notes to editors

* A small business with eight employees used for illustrative purposes only. Eight people losing 15 minutes for five days equals 600 minutes, or ten hours of time, lost. According to the Department for Business, Innovation & Skills, businesses with 0-9 employees account for 96% of all UK businesses.

About the research

50Mb Broadband Plus Phone

  • Up to 50Mbps Superfast Fibre Business Broadband
  • + Phone line with PayG Calls
  • + Unlimited Internet
  • + Fixed IP
  • £15 a month + £15 Line Rental. £50 Install

100Mb Broadband Plus Phone

  • Up to 100Mbps Ultrafast Fibre Business Broadband
  • + Phone line with Unlimited Calls
  • + Unlimited Internet
  • + Fixed IP
  • £35 a month + £15 Line Rental. £50 Install
  • Up to 100Mbps Ultrafast Business Broadband Standalone £40 A Month

200Mb Broadband Plus Phone

  • Up to 200Mbps Ultrafast Fibre Business Broadband
  • + Phone line with Unlimited Calls
  • + Unlimited Internet
  • + Fixed IP
  • £45 a month + £15 Line Rental. £50 Install
  • Up to 200Mbps Ultrafast Business Broadband Standalone £50 A Month

300Mb Broadband Plus Phone

  • Up to 300Mbps Ultrafast Fibre Business Broadband
  • + Phone line with Unlimited Calls
  • + Unlimited Internet
  • + Fixed IP
  • £75 a month + £15 Line Rental. £50 Install
  • Up to 300Mbit/s Ultrafast Business Broadband Standalone £80 A Month

Find more information at: www.virginmediabusiness.co.uk/ultrafast

Press Office

For all press enquries, please contact the Virgin Media PR team.

Email us = press@virginmedia.co.uk
Call us - +44 (0)333 000 2900

 
 

Virgin Media is part of Liberty Global, the world’s largest international cable company. Together we serve 27 million customers across 14 countries.

We support entrepreneurs, businesses and the public sector, delivering the fastest widely available broadband speeds and a complete digital platform packed with next-generation products, applications and services.

With our £3bn Project Lightning programme we aim to reach 17 million premises by 2019, including the UK’s most under-served areas.