Starting a new business? Get 40% off our accountancy services for 3 months! 😎

x

What’s the biggest time-waster in your small business? According to a new YouGov survey commissioned by Virgin Media Business, your answer is likely to be your slow internet speed.

SMEs Could Be Losing Hours Every Day

The study showed that senior figures in many small businesses believe that each of their employees loses around 15 minutes a day due to slow internet speeds. While this may not sound like a great deal of time, if you employ four people that’s an hour lost every day; with six employees, you’re losing 7.5 hours a week – a working day.

This dissatisfaction of SMEs with their internet service was also echoed in an Ofcom report that revealed a fifth of businesses don’t think they’re getting the internet speeds they’re paying for.

Internet Critical to Business

Answers from the 1,103 SME leaders surveyed indicated that internet speeds are a real issue and could hamper their plans for development and growth:

With plans to expand their use of the internet, these companies are likely to grow even more satisfied with slow service speeds. But Virgin, of course, believes it has the answer…

Virgin’s New Ultrafast Offering

The results of the survey commissioned by Virgin Media Business  have, unsurprisingly, been announced just as the company launches its new, ultrafast broadband packages, offering speeds of 50Mbps, 100Mbps, 200Mbps and 300Mbps – a speed nearly four times faster than any offered by competitors, Virgin claims.

‘The UK’s Digital Opportunity’, a report issued by Virgin Media Business last October claimed that digital technologies could provide a £56 billion boost to small businesses and create more than 920,000 new jobs.

Peter Kelly, Managing Director at Virgin Media Business, said: “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 and enabling businesses to reach their full digital potential by doing more, faster.”

Are you happy with the speed of your internet? Do you feel slow speeds hold your business back and waste employee time?

About The Author

Karl Bilby

We work very closely with our expert accountants to bring you the latest factually correct tax and accounting news. We also enjoy writing about small business news that we hope you find useful!

More posts by this author
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Read more posts...

What is a Non-Established Taxable Person for VAT?

There are special VAT rules in place for online sellers who are classed as non-established taxable persons (NETPs), and use an online…

Read More

The Accountancy Partnership – Our Positive Reviews

Here at The Accountancy Partnership, we’re proud of our customer reviews The reviews we receive from our customers show how hard we…

Read More

What Type of Legal Structure Should I Choose When I Start a Business?

The structure that you choose when you start a business affects how the business operates, the amount of tax you pay, how…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.

Bookkeeping

You will receive our bookkeeping software Pandle for free, as part of your package.

You can use this to complete your own bookkeeping, or we can provide a quote to complete your bookkeeping for you.

Please select and option below:

I will do my own bookkeeping
I want you to do my bookkeeping

Call us on 020 3355 4047 if you’re not sure.