Small businesses to benefit from next generation internet investment

Date: 7th January 2010

Small businesses in the UK could soon see an increase in profits and contract opportunities after £1 billion of funding into an improved broadband internet network was announced by the government.

Earlier today (January 7th), business secretary Lord Peter Mandelson announced the Next Generation Fund which is intended to bring super-fast broadband internet to 90 per cent of the country.

Lord Mandelson said: "We cannot underestimate the opportunities this will bring for homes and businesses which is why we are taking action to make sure everyone benefits.

"By upgrading our networks we will put the UK at the fore of rapidly developing technologies which will bring jobs, boost business potential and grow our digital economy."

The funding could prove essential if the UK is to remain globally competitive as the government has estimated that relying solely on private investment will only see the improved network reach up to 70 per cent of the population by 2017.