Fast internet connectivity is a must for the majority of small businesses these days as their communications, accounting and tax affairs and often their trade becomes ever more digital.
So the news that the Government has made a saving on its superfast broadband scheme, and therefore has extra money to put into its continuance, is unexpectedly good news.
Savvy Savings
The Department of Culture, Media and Sport, which is responsible for the Broadband Delivery UK project, has announced a total saving of £440m so far. It says this saving has been achieved through a combination of efficiency savings and a clawback mechanism that re-invests money when people take up superfast connections installed by the Broadband Delivery UK project, plus careful contract management by the Government, local authorities and BT, which has saved more than £150 million across 44 projects in the first phase of rollout.
Latest figures show that around 4.5 million premises have been given access to superfast broadband through the Government’s subsidised £1.7 billion Broadband Delivery UK rollout, with more than 1.5 million signing up for a faster connection.
These savings will now be reinvested to give more properties in the hardest-to-reach parts of the UK the quick and reliable internet connections, funding superfast broadband for up to 600,000 extra homes and businesses. 133 million already allocated to be spent in regions around the UK and BT will be releasing £292 million for extra connections –meaning that a total of £442 million will be spent on providing superfast speeds to some of the most remote parts of the country.
Culture Secretary Karen Bradley said:
“Our Broadband Delivery UK programme is giving families and businesses in hard-to-reach areas the fast and reliable internet connections, which are increasingly at the heart of modern life. Strong take-up and robust value-for-money measures mean £440 million will be available for reinvestment where it matters – putting more connections in the ground. This will benefit around 600,000 extra premises and is a further sign of our commitment to build a country that works for everyone.”
Technology for the Future
The superfast speeds (measured at 24 Mbps) are not only great for families, where members may be on multiple devices at the same time, but also for businesses and their websites. The scheme means that more than 90% of the UK can now get superfast broadband – up from just 45% in 2010 – and it’s hoped that the service will meet the needs of families and businesses for many years to come. But the Culture Secretary wants even more people to sign up to unlock extra funding for more connections.
“We have made great progress but there is still more to do,” says Mrs Bradley. “Broadband speeds aren’t boosted automatically – it needs people to sign up. Increasing take-up is a win-win-win: consumers get a better service, it encourages providers to invest, and when more people sign up in BDUK areas, money is clawed back to pay for more connections.”
To find out if your home or business could be eligible for an upgrade, visit the Department’s Superfast Broadband campaign page.