Over 150 of the capital’s commercial property owners and agents will be at City Hall today (15 July) to learn how to take advantage of a multimillion pound scheme set up to enable them to provide high speed broadband for their tenants. A report published by the Federation of Small Businesses this week highlighted that 94 per cent of small firms in London view a reliable internet connection as critical to the success of their business.
The Mayor of London wants commercial property owners to begin to co-ordinate joint applications for broadband connection vouchers from the small businesses based in their properties. Up to 9,000 small businesses in the capital could be eligible for the scheme and, where they share properties, the grants can rapidly escalate in value. A property with 40 small businesses on site could receive a grant of up to £100,000. Joint applications for business parks could see hundreds of businesses apply together.
The Mayor of London’s Deputy Mayor for business and enterprise, Kit Malthouse, said: “We want to ensure that London is the best place to start a small business and the best place to invest. That means providing small businesses with the very best possible digital infrastructure and landlords and agents can play a key role in making that happen. They are the ideal people to co-ordinate joint applications across the sites that they own or manage and by installing superfast broadband they are increasing the attractiveness and value of their own properties.”
The scheme underpins the Mayor’s aspiration to provide London businesses with the digital infrastructure they need to realise their full economic potential, in order to drive jobs and growth in the capital and allow them to compete more efficiently in today’s fast-paced global market. London’s population is forecast to increase to 10 million people by 2030 and 11 million by 2050, making investment in the digital infrastructure that can help fuel jobs and growth of even greater importance. The Mayor has commissioned a long term infrastructure investment plan for London that will be released later this summer and will set out London’s high level infrastructure requirements to 2050.
High-speed broadband has the potential to offer huge benefits for data-hungry small businesses and is a key factor when businesses decide where to locate. It can increase efficiency by allowing flexible digital storage and file sharing, improve customer service through super speedy data transfer, and save travel costs by enabling remote working and videoconferencing. Increased connectivity will also allow businesses to work in partnership to compete for bigger contracts, thereby increasing their chances in today’s competitive market.
Notes to editors
- Businesses can apply for a voucher worth up to £3,000 each to help them with the set up cost of high speed internet connections.
- The funding is part of the Department for Culture, Media and Sport’s ‘Super-Connected Cities’ initiative, which will see the installation of high speed broadband in 22 cities nationwide.
- Applications are subject to criteria and businesses may receive a grant up to £3,000. Businesses and end users must still pay monthly line rental, broadband service charges and VAT. For more information on the scheme or to apply for a voucher please go to www.london.gov.uk/broadband
- 94 per cent of small firms in London view a reliable internet connection as critical to the success of their business according to a report by The Federation of Small Businesses. “The 4th utility: delivering universal broadband connectivity” is available from www.fsb.org.uk.