UK Small Businesses Lose £12bn Annually Due to Internet Outages
72% of enterprises experienced ‘internet downtime’ last year which amassed to 149 million working hours between them
UK small businesses lost an astonishing £12bn last year due to internet outages, according to a report by Beaming.
A survey of 500 small enterprises using a range of internet providers revealed 72% of respondents (roughly 3.9 million businesses) had experienced ‘internet downtime’ which amassed to 149 million working hours between them – resulting in an average loss of an £3,125, the equivalent of £521 per employee.
The consequences for businesses weren’t just financial however, as 23% said they were forced to remain open for longer with 38% admitting their operations ground to a halt when the problem occurred.
81% of those surveyed said they had a complete reliance on email to stay in business with 13% losing money almost immediately after a drop in connectivity, highlighting the importance of good internet connection for modern day businesses.
Sonia Blizzard, managing director of Beaming, said:
“The internet is the greatest business resource ever invented, but our increasing reliance on connectivity creates new risks for those that need it the most. The pace of business is now such that any downtime means missed opportunities, lost productivity and a huge amount of stress as businesses race to get back on track.
“It is only when businesses experience a problem that they find their large, consumer orientated broadband provider expects them to self-cure problems online or queue for hours on the phone to gain assistance.”