Advertising giveaway for local businesses highlights gigabit broadband productivity boost.
- £10,000 worth of advertising on Old Street Roundabout has been given away for free by G.Network to SME customers in Islington and Hackney in a campaign highlighting positive productivity stories from local businesses who switched to gigabit speed full fibre
- Seven in 10 (71%) business leaders in London say slow or unreliable broadband has a negative impact on their operations
- Common issues due to poor internet include struggling to deliver customer service (34%), access documents (33%) or even make financial transactions (30%)
- These productivity problems cost each London businesses tens of thousands of pounds.
Full fibre broadband operator G.Network has given SME customers in Islington and Hackney £10,000 worth of free advertising, highlighting how some of London’s up-and-coming businesses have overcome productivity challenges.
Local businesses such as IT solutions firm Tech Ahoy, media planning and buying company The Media People, and brand design agency Boundless Brand Design have benefited from high profile advertising space on Old Street Roundabout. It’s part of wider long-term efforts to support businesses and spark conversations around productivity and internet speed in London.
New data from G.Network shows that 71% of businesses in the capital say they are being held back by slow broadband. On average, leaders at London businesses say the annual damage due to poor connectivity is regularly having a negative impact on businesses in delivering customer service (34%), accessing documents (33%), conducting research (33%) or even when making financial transactions (30%).
While gigabit capable broadband is available to 84% of Londoners**, the average download speed is 160.5 Mbps – just 32% faster than the UK average^ and significantly slower than gigabit speeds.
This discrepancy indicates many businesses could be missing out. However, the prices offered by many providers for these speeds are prohibitive with expensive leased lines from incumbents, averaging £336 per month for a symmetrical 1Gbps business connection and running as high as £610 per month. The current lowest price in the market for this speed is from £159 per month, offered by G.Network.†
Another obstacle is the red tape associated with wayleave agreements – where the landlord – often located offshore, tenant and telecoms provider must sign a legal document allowing the provider to install the necessary equipment within an office building to deliver digital infrastructure.
Kevin Murphy, CEO at G. Network said: “Productivity and connectivity in the capital are undoubtedly closely linked. But too many businesses are losing out due to high costs, the complexity of wayleave agreements and the fact that many fibre connections don’t run all the way to workplaces, relying on slower copper cable for the last leg. These barriers need to be tackled so that gigabit capable internet needs can be delivered to workplaces in London. It’s a critical enabler of the tools and digital technologies that allow businesses to thrive and innovate.”
Barriers to better connectivity put business leaders in a difficult position, as poor-quality internet connections are having a significant impact on their staff. More than half of businesses (55%) say that internet problems impact employees at least once a week when in office – more than the proportion (34%) who say the same about remote working. This is particularly alarming as 36 per cent of business leaders say poor internet has a negative impact on employee morale.
Case study: The Media People, Farringdon (Islington)
The Media People is a media planning and buying business and since its inception, it has been dedicated to delivering outstanding performance for customers. However, like many businesses, they faced significant challenges with their broadband provider. Internet reliability left much to be desired, with frequent interruptions and downtime disrupting workflow.
This inconsistency was not only frustrating but also damaging to productivity and client relationships. The Media People needed a solution to ensure that they could continue to deliver top-notch service to clients. Their quest for a solution led them to a partnership with G.Network. In just under two years of working together, the strength of their broadband services had a profound impact on operations.
Kris Babb, Group Operations Director at The Media People said: “The dependability of G.Network’s broadband service has transformed the way we work. The interruptions and downtime that used to plague us have become a thing of the past, thanks to the superior reliability offered by G.Network. Our productivity has skyrocketed, and we are confident that our business operations have been significantly improved.”