A study from Telecommunications Policy found that high-speed broadband availability and service adoption played a significant role in socioeconomic growth. More than just mere availability, the key factor deciding the outcome variables for both urban and rural settings relied on taking on the services. This study also saw more economic resilience in high-skilled workers who made use of high-speed connectivity.
Right now, the main barrier to broadband expansion in the UK has been the lack of government incentives. Despite the undeniable potential of high-capacity broadband to elevate businesses and enable growth, a significant portion of the country’s businesses still experience inadequate speeds. As such, it’s worth examining what defines high-speed internet in today’s market and how to tap into it.
What is high-speed internet today?
Data consumption and demand have hit another level in the last decade, with over 400 million terabytes of data created daily. On a typical day with average browsing habits and application use, a few gigabytes of internet data are used per individual. As such, the industry standard for high-speed internet now dances around the 100 Mbps mark. This is enough to provide HD streaming, download huge files, connect with other users through gaming and work platforms, and remain connected with multiple users on the same network. Naturally, the enterprise standard is higher, with gigabyte speeds being the preferred norm.
5G has become the wireless standard due to its lower latency, better reliability, expanded capacity, and ability to deliver gigabyte speeds. Three has been the leader in the UK for 5G cellular networks due to its unlimited data plans that work for power users who don’t want their internet speeds to throttle. For businesses, the hallmark is now full fibre business broadband. On top of Gigafast speeds, it provides more lossless and consistent connectivity than wireless options. Zzzoomm uses full fibre broadband, which employs the Fibre to the Premises (FTTP) approach. For businesses with multiple users needing to stay online, this ensures there will be no problems with buffering, speeds, and interference.
FTTP is superior to Fibre to the Cabinet (FTTC) because it doesn’t use copper cables to connect the client to the network. Instead, fibre-optic cables run from the cabinet to the property in question. Fibre has largely upended DSL because it’s more durable, weather-resistant, and faster. Unlike DSL cables, it also doesn’t fall to interference from multiple connections. This means connectivity won’t slow down or drop out even when specific devices are operating at top speeds.
How to take advantage of high-speed internet connectivity
So, how does a business or entrepreneur take advantage of high-speed connectivity for socioeconomic growth? Arguably, the most exciting avenue here is the pursuit of flexible digital opportunities and expanding online reach. In the current state of e-commerce in the UK, 36.3% of the total retail market stems from online transactions. Online sales increased by 36% in 2022, with experts noting continued growth of 12.5% by 2025. With the power of social media marketing, expanded platforms for sales, and mobile connectivity, businesses can take advantage of this shift by banking on their connectivity.
As it stands, reports also show a surge in job applications despite fewer roles. With proper high-speed internet, you can use this current state to proactively recruit talented individuals with the skills you need for your business. Proactive sourcing is a great way to ensure you spend less time finding candidates and more time getting results. Due to the highly competitive market, you need the edge of having the capacity to onboard globally and effectively make use of various network-demanding technologies to do so.
It’s also worth noting that consumers respond more to responsive and connected businesses. Since e-commerce has become so normalised, there are now expectations that can be the difference between your business and the competition. A survey of 504 UK businesses revealed over 50 million hours and £3.7 billion of revenue lost due to internet failures. Lost data, productivity, and transactions can be a thing of the past with proper connectivity. Even for entrepreneurs looking to grow their skillset and improve productivity first, the advent of full-fibre and enhanced wireless connectivity can enable individuals to pursue these tools and resources online.
