The development of the highly anticipated $43 billion National Broadband Network (NBN), set to be the single largest nation-building infrastructure project in Australian history, is expected to provide huge benefits to both businesses and individuals throughout Australia. By connecting 90 per cent of all Australian homes, schools and workplaces with broadband services with speeds up to 100 times faster than those currently used by many households and businesses, Australians will be connected like they never have before.
Small businesses will be big winners from the program through improvement of access to capital and markets and improvement of business processes over digital or online networks, which can in turn enhance internal business functions as well as B2B relationships, customer relationships and services. High-speed broadband is becoming increasingly essential to the way we do business and the introduction of the NBN is expected to help drive Australia's productivity.
‘The opportunities for small businesses in Australia’s broadband future are limitless. The NBN will help small businesses by promoting workplace flexibility, which in turn will provide savings for businesses and better work–life balance for staff,’ says Jaye Radisich, CEO of the Council of Small Business of Australia (COSBOA).
‘Broadband is an enabler for innovation – and we know that Australian small businesses are among the most innovative in the world. The possibilities for what small businesses will be able to deliver with high-speed broadband are mind-blowing. Start-ups will emerge more quickly and easily to take advantage of new and niche market opportunities,’ says Ms Radisich.
The possibilities are endless and the online future has never looked brighter for Australia’s small businesses.