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The Invisible Threat To London’s Economy

London skyline

London is pulling up the rear just behind Birmingham in a recent survey from Prosyn IT Support.

The city’s available internet connection speeds are well behind Oxford, Stockholm, Bucharest and many other cities at home and abroad, weighing in at a paltry average of 26.3 Mbps, with far lower within the City of London and the West End. For a place that prides itself on its powerful industry and quick business growth, it certainly isn’t equipping entrepreneurs with the best tools available, and makes keeping their operations in the cloud an especially difficulty undertaking for many companies!

The infrastructure for superfast fibre broadband that has been taking much of the world by storm lately is almost nowhere to be found within London’s inner limits. Things do not seem to be moving in that direction anytime soon either, despite the huge cost in lost productivity. Business is moving into the cloud at an alarming rate, with the global digital economy growing at more than 10% every year… It won’t be long, therefore, before London’s businesses are left in the dust. As home to 22% of the economic output of the entire United Kingdom, what would happen if businesses abandoned London in search of more favourable conditions, or what if businesses from abroad never came? This lack of cloud infrastructure is crippling not only to London itself, but the entire UK, and it must be addressed.