The lack of affordable superfast broadband in the Square Mile is a block on growth says a City of London Corporation chief.
Writing in City A.M. Mark Boleat, Chairman of the Corporation’s Policy and Resources Committee, warns there is a danger that the attractiveness of the City could be diminished by poor connectivity, and calls for support from businesses to change the situation.
Technology has revolutionised the way business is conducted over recent decades. It has reshaped the way companies operate and impacts on the amount of space they require and what they expect from the offices they occupy.
Recent research from Ofcom revealing that consumers now consider internet and mobile services to be as essential as water, electricity and gas underlines the transformation that has taken place.
Despite this, both Scandinavia and Asia have better broadband coverage than the UK, and the target to ensure that 95% of the country has access to a superfast service has been shifted to 2017.
While larger firms in the City are able to lease expensive dedicated lines, this option is unaffordable to the 13,000 SMEs and 9,000 residents based in the City, Boleat explains.
The City of London Corporation is asking businesses and residents to complete a survey outlining the level of service required. The results will be presented to suppliers as part of the Corporation’s efforts to improve the situation.
“The Square Mile is home to innovative global businesses and provides the market drivers for many fast-growing firms in other sectors, including the neighbouring Tech City,” Boleat continues.
“If London is to continue delivering the innovative new products and services that will keep us at the cutting edge, we cannot afford to be left lagging behind our rivals in the slow lane of the broadband superhighway.”
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