Full fibre broadband connection unlocks growth potential for UK SMEs – London Business News | Londonlovesbusiness.com

Data released by the broadband provider Compare Fibre in 2021 indicated that although the UK enjoys 96.8% superfast 30 Mbps, there remained a disparity in the state of full fibre broadband provision across the country. During the study period, the region Orkney had less than 0.9% provision, while limited coverage was also reported for other areas like Oxford District (1.1%), North East Lincolnshire (1.3%), and Luton Borough Council (1.5%).

However, recent reports reveal a significant improvement in the accessibility and coverage of full fibre broadband in the UK. The annual Metrics for the UK independent network sector report finds that alternative network providers saw robust growth in 2023 as they have deployed their networks across UK premises at an impressive pace.

The collective altnet footprint was reported to reach 12.9 million premises, representing 35% of UK premises with a 57% year-on-year growth. While Openreach is widely known as the market-leading provider of gigabit fibre networks, the altnet sector is expected to outperform the number of premises passed by Openreach.

As these figures highlight the increasing access to a fibre connection across the UK, this progress also translates into growth opportunities that small and midsize enterprises (SMEs) can leverage, as further explained below.

Gigafast speeds pave the way for digital transformation

Compared to standard cable broadband connections, fibre connectivity provides faster speeds that businesses can utilise for digital transformation. For example, Zzoomm’s full fibre business broadband plans range from 300Mbps to 1200Mbps, enabling SMEs to rely on symmetrical upload and download speeds for essential digital functions like point-of-sale systems, digital marketing, and online customer support.

Research also shows that slow internet speeds can contribute to productivity losses, costing employees one week per year and the economy an estimated £598 million. However, the fibre broadband provider Zzoomm’s plans also include Wi-Fi hubs that seamlessly connect SMEs’ teams for greater productivity and efficiency in increasingly digital work environments.

Fibre connectivity sustains and scales operations

In addition to making SMEs more productive and efficient through digital transformation, full fibre broadband networks are also more reliable than copper connections. To start, fibre optics are not susceptible to inclement weather conditions, thus ensuring sustainable operations for SMEs that may otherwise be drastically affected by any unplanned downtime.

The reliability of full fibre broadband also extends to its bandwidth, with the speed not decreasing even when demand and user activity increase. As such, fibre connectivity is the viable option for an estimated 70% of UK SMEs that plan to scale their operations and even capture foreign markets.

Cybersecurity threats to be addressed

As SMEs digitise their operations to optimise their workflows and reach more customers, they must be equipped to detect and respond to cybersecurity threats. The UK Government’s Cyber Security Breaches Survey 2024 found that half of UK firms have reported cyber attacks like data breaches in the past year, with 70% of medium-sized businesses and 58% of small businesses likely to be hit.

However, upgrading to a fibre connection can improve the cybersecurity measures in place, as it uses self-supporting cables that cannot be easily intercepted by malicious hackers or third-party actors. Even in the case of data breaches and ransomware, fibre’s faster, more reliable speeds can facilitate data backup and recovery to minimise financial and productivity losses associated with cyber attacks.

In summary, full fibre broadband presents UK SMEs with growth opportunities through digital transformation, scalability, and cybersecurity, incentivising them to upgrade to this type of network for their workflows and operations.