Investing in full-fibre and 5G could increase a local authority’s revenue intake by £10,000, new research suggests.
A new report from the Broadband Stakeholder Group (BSG) has outlined the the localised economic benefits of full-fibre and 5G.
Written by Oxera on behalf of BSG, the study revealed that if local authorities invested in full-fibre and 5G, they could see an increase of up to 3.2% in new businesses operating in the area.
If reflected in business rates, the researchers calculated, a council could see an increase in gross revenue of over £10,000.
Existing businesses will also see an increase in productivity which should result in an expected increase in turnover of up to 3.8% per worker each year.
‘Full-fibre and 5G networks will bring technological and service quality improvements over previous generations of fixed and mobile networks,’ reads the report.
‘They will provide faster and more reliable connectivity, as well as a conduit for new applications and services that can take advantage of the technological improvements these new connections will bring.
‘These new services and applications will enable new and improved business practices and end-user services such that increased availability and take-up of full-fibre broadband and 5G will lead to positive outcomes for businesses, consumers, local government and wider society.’
BSG added that local authorities would be able to realise direct benefits by being able to implement ‘more innovative public service delivery’ whilst driving down costs, such as through increased cloud adoption.